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

With the FTX speech being highlighted each implicit the satellite of finance, spot successful the crypto abstraction seems to dwindle. However, Pantera Capital CEO Dan Morehead believes that determination are 2 areas successful crypto that genuinely work. 

According to the executive, narratives that question blockchain and telephone it a nonaccomplishment due to the fact that of the FTX illness are wrong. The Pantera CEO argued that determination are respective things successful crypto that work, specified arsenic regulated exchanges and decentralized exchanges.

— Dan Morehead (@dan_pantera) December 20, 2022

In a missive to investors, Morehead highlighted that portion crypto detractors and skeptical regulators privation are purporting the request for a antithetic attack successful blockchain trading, the solution is simple. He wrote: 

“There are exchanges similar Coinbase, Kraken, and Bitstamp that, erstwhile a lawsuit sends wealth to them, they conscionable enactment it successful a bank. The solution is beauteous straightforward.”

Apart from regulated exchanges, Morehead besides believes that the decentralized concern abstraction besides worked well. Specifically, the Pantera CEO pointed toward decentralized exchanges similar Uniswap, 0x, 1inch, Balancer and Dodo.

According to Morehead, concern successful the blockchain abstraction is moving backmost to harmless entities similar such. The enforcement argued that FTX had thing to bash with blockchain's promise, highlighting that "blockchain didn't fail."

Related: What blockchain investigation tin and can't bash to find FTX's missing funds: Blockchain.com CEO

With the FTX illness grabbing the attraction of regulators astir the globe, investing level Superhero canceled its merger with the crypto speech Swyftx. In a missive to its users, Superhero said that due to the fact that of the existent environment, the steadfast volition unwind the merger and determination connected arsenic abstracted companies.

Meanwhile, the erstwhile FTX CEO Sam Bankman-Fried has signed extradition papers and volition beryllium flown to the United States arsenic helium faces transgression charges. The erstwhile FTX CEO volition look charges relating to ligament fraud, conspiracy to perpetrate wealth laundering, run concern violations and conspiracy to perpetrate wire, commodities and securities fraud.