Cathie Wood complains that regulators unfairly targeted crypto while missing the crisis ‘looming’ in traditional banking

The tech investor argued that problems in traditional banking hurt cryptocurrencies, not the other way around.

Highlights

U.S.
regulators have been warning banks away from providing services to the cryptocurrency sector.
But head of ARK Investment Management says regulators missed problems in banks like Silicon Valley Bank because they were too focused on cryptocurrencies.
She argues that regulators should have been focused on the “centralized and opaque points of failure looming in the traditional banking system” rather than on decentralized finance and cryptocurrencies, she says.
The value of major crypto currencies have increased from lows before the weekend as of 3:00 p.m.
Hong Kong time, Bitcoin is up 27% and Ether is up 24% from lows on Friday.

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