© Reuters ‘US Exchanges Lose To Foreign Exchanges’: ARK Invest CEO Cathie Wood
- ARK Invest founder Cathie Wood claimed that the current regulations in US don’t allow them to win against foreign ones.
- Nic Carter posted that third-paty staking ban is bad for exchanges but good for protocols themselves.
- Coinbase (NASDAQ:) CEO tweeted that the US SEC is considering to ban staking for retail users.
ARK Invest Founder, CEO, and CIO, Cathie Wood replied to a Twitter thread discussing staking-as-a-service in the US with “US exchanges lose to foreign exchanges.”
So, activity moves to offshore exchanges or to self custody, self sovereignty, and self control? Decentralization wins. Great! Given regulatory arbitrage, however, US exchanges lose to foreign exchanges, not so good for US competitiveness in the crypto revolutions, in my view. https://t.co/1Lv4IqVsmn
— Cathie Wood (@CathieDWood) February 11, 2023
The conversation started when Castle Island Ventures partner Nic Carter shared that “3rd party staking ban isn’t good for exchanges,” however, it is a “blessing in disguise” for the protocols.
According to Carter, Staking enables exchanges to become dominate nodes, allowing protocols to capture is the main reason behind PoS failure mo…
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