With the FTX change being highlighted all around the world of finance, belief within the crypto house appears to dwindle. Nevertheless, Pantera Capital CEO Dan Morehead believes that there are two areas in crypto that really work. In keeping with the chief, narratives that query blockchain and name it a failure due to the FTX collapse are incorrect. The Pantera CEO argued that there are a number of issues in crypto that work, corresponding to regulated exchanges and decentralized exchanges. “In the event you can’t belief FTX who are you able to belief?!”The 2-pronged reply is:Regulated exchanges work nice e.g. @coinbase, @BitstampDeFi works nice, particularly DEXs e.g. @Uniswap, @Balancer, @BreederDodoBusiness is transferring again to secure entities.Extra: https://t.co/Ph0i9IuS9h pic.twitter.com/9E1v1fs0gO— Dan Morehead (@dan_pantera) December 20, 2022
In a letter to buyers, Morehead highlighted that whereas crypto detractors and skeptical regulators need are purporting the necessity for a distinct method in blockchain buying and selling, the answer is easy. He wrote: “There are exchanges like Coinbase, Kraken, and Bitstamp that, when a consumer sends cash to them, they only put it in a financial institution. The answer is fairly easy.” Other than regulated exchanges, Morehead additionally believes that the decentralized finance house additionally labored nicely. Particularly, the Pantera CEO pointed towards decentralized exchanges like Uniswap, 0x, 1inch, Balancer and Dodo. In keeping with Morehead, enterprise within the blockchain house is transferring again to secure entities like such. The chief argued that FTX had nothing to do with blockchain’s promise, highlighting that “blockchain did not fail.”Associated: What blockchain evaluation can and may’t do to seek out FTX’s lacking funds: Blockchain.com CEOWith the FTX collapse grabbing the eye of regulators across the globe, investing platform Superhero canceled its merger with the crypto change Swyftx. In a letter to its customers, Superhero mentioned that due to the present setting, the agency will unwind the merger and transfer on as separate corporations. In the meantime, the previous FTX CEO Sam Bankman-Fried has signed extradition papers and will probably be flown to the US as he faces felony costs. The previous FTX CEO will face costs regarding wire fraud, conspiracy to commit cash laundering, marketing campaign finance violations and conspiracy to commit wire, commodities and securities fraud.