When Banks Collapsed, Bitcoin, Ethereum Didn't Skip a Beat: Cathie Wood

Bank Collapses Didn't Threaten Crypto Networks, tweeted Cathie Wood

March 15, 2023 By: Ramsha Naushad

Catherine Duddy Wood, founder, CEO and CIO of Ark Invest, tweeted about the resilience of Decentralized Finance and loopholes in banking system.

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She said: While the US banking system was seizing up in response to bank runs threatening regional banks, Bitcoin, Ethereum, and other crypto networks didn’t skip a beat.

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Quoting another tweet for MakerDAO performance over the weekend, say said: "Instability in the banking system threatened stablecoins, the on-ramps to DeFi, in stark contrast to regulator rhetoric".

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Maker Protocol's collateralization is at 154% with $8.26 billion worth of collateral backing 5.38 billion DAI. No liquidations have been triggered during the last week.

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She reinstates that "instead of blocking decentralized platforms..., regulators should have been focused on the centralized and opaque points of failure looming in the traditional banking system."

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Cathe hints that the crisis was looming all over in plain sigh with asset and liability duration mismatches.

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Eric Wall rebounded with: "While I’m with you in spirit, the thing you’re retweeting (DAI) literally did skip a beat though. It depegged down to $0.9.

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