Dan Morehead: FTX collapse has nothing to do with blockchain prospects

The CEO of the American hedge fund Pantera Capital stood up for the blockchain, saying: everyone who claims that the collapse of the FTX crypto exchange means the failure of the blockchain is wrong. Dan Morehead is confident that there are many more trustworthy platforms in the cryptocurrency industry, both centralized and decentralized. As an example, he cites regulated crypto exchanges Coinbase and Bitstamp, as well as decentralized platforms – Uniswap, Dodo and Balancer. Exchanges like Coinbase, Kraken, and Bitstamp put it in the bank when they receive a client’s money, so skeptics’ claims that blockchain needs some other approach to regulation are untenable, because the solution is already there and it’s simple, insists Morehead. According to the expert, decentralized finance, in particular decentralized crypto exchanges (DEX), such as 1inch, Uniswap, Dodo, 0x and Balancer have proven themselves well.. From this, Morehead concludes that the blockchain did not play any role in the FTX default, as it continues to prove its usefulness on other sites. “Skeptics, some regulators and politicians are missing the point by declaring the failure of the blockchain: the collapse of FTX is not related to the blockchain – this is not a cryptocurrency that can go on and collapse. All protocols were working fine at the time of the FTX crash and continue to work,” says Morehead. He quoted new FTX CEO John Ray as saying, “This is really an old-fashioned steal.. A simple scheme in which they simply took money from customers and spent it for their own purposes. Bits.media recently published an article about what, in addition to the collapse of FTX, influenced the decline in the value of cryptocurrencies in general and bitcoin in particular.