Pantera CEO on the FTX collapse: ‘Blockchain didn’t fail’

[ad_1] <div data-v-71d2d00b="">With the FTX trade being highlighted all around the world of finance, belief within the crypto area appears to be dwindling. Nonetheless, Pantera Capital CEO Dan Morehead believes that there are two areas in crypto that really work.Based on the manager, narratives that query blockchain and name it a failure due to the FTX collapse are mistaken. The Pantera CEO argued that there are a number of issues in crypto that work, akin to regulated exchanges and decentralized exchanges. <blockquote class="twitter-tweet">“When you can’t belief FTX who are you able to belief?!”The 2-pronged reply is:Regulated exchanges work nice e.g. <a target="_blank" href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw" rel="noopener">@coinbase</a>, <a target="_blank" href="https://twitter.com/Bitstamp?ref_src=twsrc%5Etfw" rel="noopener">@Bitstamp</a>DeFi works nice, particularly DEXs e.g. <a target="_blank" href="https://twitter.com/Uniswap?ref_src=twsrc%5Etfw" rel="noopener">@Uniswap</a>, <a target="_blank" href="https://twitter.com/Balancer?ref_src=twsrc%5Etfw" rel="noopener">@Balancer</a>, <a target="_blank" href="https://twitter.com/BreederDodo?ref_src=twsrc%5Etfw" rel="noopener">@BreederDodo</a>Enterprise is shifting again to secure entities.Extra: <a target="_blank" href="https://t.co/Ph0i9IuS9h" rel="noopener">https://t.co/Ph0i9IuS9h</a> <a target="_blank" href="https://t.co/9E1v1fs0gO" rel="noopener">pic.twitter.com/9E1v1fs0gO</a>— Dan Morehead (@dan_pantera) <a target="_blank" href="https://twitter.com/dan_pantera/status/1605254513874440192?ref_src=twsrc%5Etfw" rel="noopener">December 20, 2022</a></blockquote>

In a letter to buyers, Morehead <a target="_blank" href="https://panteracapital.com/blockchain-letter/the-need-for-trustless-systems/" rel="noopener nofollow">stated</a> that whereas crypto detractors and skeptical regulators are purporting the necessity for a unique method in blockchain buying and selling, the answer is straightforward. He wrote: <blockquote>“There are exchanges like Coinbase, Kraken, and Bitstamp that, when a consumer sends cash to them, they simply put it in a financial institution. The answer is fairly simple.” </blockquote>Aside from regulated exchanges, Morehead additionally believes that the decentralized finance area additionally works properly. Particularly, the Pantera CEO pointed towards decentralized exchanges like Uniswap, 0x, 1inch, Balancer and Dodo. Based on Morehead, enterprise within the blockchain area is shifting again to secure entities. The chief argued that FTX had nothing to do with blockchain’s promise, highlighting that “blockchain didn’t fail.”Associated: <a target="_blank" href="https://cointelegraph.com/news/what-blockchain-analysis-can-and-can-t-do-to-find-ftx-s-missing-funds-blockchain-com-ceo" data-amp="https://cointelegraph-com.cdn.ampproject.org/c/s/cointelegraph.com/news/what-blockchain-analysis-can-and-can-t-do-to-find-ftx-s-missing-funds-blockchain-com-ceo/amp" rel="noopener">What blockchain analysis can and can't do to find FTX's missing funds: Blockchain.com CEO</a>With the FTX collapse grabbing the eye of regulators across the globe, investing platform Superhero <a target="_blank" href="https://cointelegraph.com/news/superhero-cans-merger-with-swyftx-citing-regulatory-scrutiny" data-amp="https://cointelegraph-com.cdn.ampproject.org/c/s/cointelegraph.com/news/superhero-cans-merger-with-swyftx-citing-regulatory-scrutiny/amp" rel="noopener">canceled its merger</a> with crypto trade Swyftx. In a letter to its customers, Superhero stated that due to the present setting, 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 will likely be flown to the US the place he faces felony costs referring to wire fraud, conspiracy to commit cash laundering, marketing campaign finance violations and conspiracy to commit wire, commodities and securities fraud.<template data-name="subscription_form" data-type="crypto_biz"/>

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