Cathie Wood, the CEO and creator of ARK Invest, thinks that one section of the cryptocurrency market will profit from the widely reported failure of FTX.
In an interview with Yahoo! Finance, Wood asserted that the bankruptcy of FTX and other cryptocurrency businesses will improve DeFi networks.
Due to the failures of FTX, crypto lender Celsius, and digital asset hedge fund Three Arrows Capital, decentralized networks will become increasingly important in the financial services industry.
According to Cathie Wood, the collapse of FTX will increase interest in cryptocurrencies.
SourceDaily Hodl
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