Ark Investment Fears Domino Effect of FTX Collapse

Cathie Wood’s Investment Firm Warns Of Domino Effect of FTX

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Ark Investment called FTX’s insolvency as one of the most damaging events in crypto history.

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Cathie Wood’s investment management firm believes FTX collapse could delay institutional crypto adoption by years.

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In a newsletter, the firm's analysts wrote that FTX insolvency will give a reason to regulators to take draconian measures.

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Ark Investment has heavily invested in the US-based crypto exchange Coinbase.

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The ripple effect of FTX collapse can already be seen in the crypto industry as earlier BlockFi suspended withdrawals.

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The firm also said the silver linings of FTX's demise were that Bitcoin and Ethereum did not lose by much.

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“ARK’s conviction in the long-term promise of public blockchains across money, finance, and the internet is not wavering,” the firm said.

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