Pantera CEO on the FTX collapse: Blockchain didn’t fail
With the FTX exchange being highlighted all over the world of finance, trust in the crypto space seems to dwindle. However, Pantera Capital CEO Dan Morehead believes that there are two areas in crypto that truly work.
According to the executive, narratives that question blockchain and call it a failure because of the FTX collapse are wrong. The Pantera CEO argued that there are several things in crypto that work, such as regulated exchanges and decentralized exchanges.
“If you can’t trust FTX who can you trust?!”The two-pronged answer is:Regulated exchanges work great e.g. @coinbase, @BitstampDeFi works great, specifically DEXs e.g. @Uniswap, @Balancer, @BreederDodoBusiness is moving back to safe entities.More: https://t.co/Ph0i9IuS9h pic.twitter.com/9E1v1fs0gO
In a letter to investors, Morehead highlighted that while crypto detractors and skeptical regulators want are purporting the need for a different approach in blockchain trading, the solution is simple. He wrote:
Apart from regulated exchanges, Morehead also believes that the decentralized finance space also worked well. Specifically, the Pantera CEO pointed toward decentralized exchanges like Uniswap, 0x, 1inch, Balancer and Dodo.
According to Morehead, business in the blockchain space is moving back to safe entities like such. The executive argued that FTX had nothing to do with blockchain's promise, highlighting that "blockchain didn't fail."
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