With the FTX change being highlighted all around the world of finance, belief within the crypto house appears to be dwindling. Nonetheless, Pantera Capital CEO Dan Morehead believes that there are two areas in crypto that really work.
In line with the manager, narratives that query blockchain and name it a failure due to the FTX collapse are improper. The Pantera CEO argued that there are a number of issues in crypto that work, comparable to regulated exchanges and decentralized exchanges.
“Should you can’t belief FTX who are you able to belief?!”
The 2-pronged reply is:
Regulated exchanges work nice e.g. @coinbase, @Bitstamp
DeFi works nice, particularly DEXs e.g. @Uniswap, @Balancer, @BreederDodo
Enterprise is shifting again to secure entities.
Extra: https://t.co/Ph0i9IuS9h pic.twitter.com/9E1v1fs0gO
— Dan Morehead (@dan_pantera) December 20, 2022
In a letter to buyers, Morehead stated that whereas crypto detractors and skeptical regulators are purporting the necessity for a special method in blockchain buying and selling, the answer is straightforward. He wrote:
“There are exchanges like Coinbase, Kraken, and Bitstamp that, when a consumer sends cash to them, they only put it in a financial institution. The answer is fairly easy.”
Other than regulated exchanges, Morehead additionally believes that the decentralized finance house additionally works properly. Particularly, the Pantera CEO pointed towards decentralized exchanges like Uniswap, 0x, 1inch, Balancer and Dodo.
In line with Morehead, enterprise within the blockchain house is shifting again to secure entities. The manager argued that FTX had nothing to do with blockchain’s promise, highlighting that “blockchain didn’t fail.”
Associated: What blockchain evaluation can and may’t do to seek out FTX’s lacking funds: Blockchain.com CEO
With the FTX collapse grabbing the eye of regulators across the globe, investing platform Superhero canceled its merger with crypto change Swyftx. In a letter to its customers, Superhero stated that due to the present atmosphere, the agency would unwind the merger and transfer on as separate firms.
In the meantime, former FTX CEO Sam Bankman-Fried signed extradition papers and might be flown to the USA the place he faces felony expenses referring to wire fraud, conspiracy to commit cash laundering, marketing campaign finance violations and conspiracy to commit wire, commodities and securities fraud.
