ARK Invests “60% Bitcoin and 40% Ethereum” And SEC’s Gensler Likes Satoshi
Bitcoin is surging and touches the $47k mark again. It has now in fact gained 5% in the past seven days, so all that talk about a Bitcoin crash last week seems a distant memory.
In another sign of growing faith in Ethereum, ARK CEO and founder Cathie Wood announced she would split her investment in crypto as to being 60% in Bitcoin and 40% in Ethereum. Speaking at the SALT Conference in New York, she stated:
Our confidence in Ethereum has gone up dramatically as we have seen the beginning of the transition from Proof-of-Work to Proof-of-Stake.
As to the growing interest of investors for DeFi products, Cathie stated:
I’m fascinated with what’s going on in DeFi, which is collapsing the cost of the infrastructure for financial services in a way that I know that the traditional financial industry does not appreciate right now.
Wall Street Top Cop Gensler Likes Satoshi
Last week the crypto world was shocked to hear the SEC’s top enforcer, Gary Gensler, go after crypto coins and the fear of regulation has since then been looming over the CoinMarketCap top coins.
In an aggressive interview with the Financial Times, Gensler claimed that “crypto platforms need regulation to survive.” The tone was set.
This week, Gary gave a follow-up interview to magazine The Intelligencer, a feature in the New Yorker, in which he was asked about Reddit, memestocks, Robinhood and of course Satoshi Nakamoto. He has since softened his stance and his answers may surprise you.
Gensler has come to be seen by Wall Street’s classic banks as their very own enforcer who is bound to stop the stellar growth of crypto platforms. When he threatened them with regulation last week, they certainly got what they asked for.
This week though, he seems to have softened his tone somewhat and when it comes to discussing the illustrious inventor of Bitcoin, the mysterious Satoshi Nakamoto, the New Yorker asked:
I’ve seen a good argument that Nakamoto is no longer alive and that they may have been Hal Finney, the software engineer. Do you have a theory?
Today might be a bearish day with Gary Gensler’s testimony to the senate banking committee. We know what he’s going to say because we have the transcript, but just remember that it’s all about the long-term. Today is just a blip, crypto will grow exponentially moving forward.— Digital Asset News (@NewsAsset) September 14, 2021
I do think that whoever she was, or they, Nakamoto-san solved a couple of riddles — like double spending and how to ensure you can move value on the internet and not do it multiple times.
Following up, and broadening his answer when it comes to platforms and possible regulation, Gensler stated:
You’re just a creditor of that crypto exchange. They may or may not even have the crypto. There are hundreds of exchanges; many have gone out of business because they were either hacked or were outright frauds or scams. The big ones now have trading on 50 or 200 tokens, and probabilities are such that many of those tokens are securities or investment contracts under our laws. It would be far better if some of these platforms came in and actually registered as to what they are.
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