Investing.com – Cathie Wood, CEO of Ark Invest, posted a message on her Twitter page (NYSE:) commenting on the current panic that is rocking the banking system, highlighting the resistance of cryptocurrencies such as the or the.
“As the US banking system seized up in response to bank runs that threatened regional banks, Bitcoin, Ethereum and other crypto networks wasted no time,” noted the famed manager.
She also considered that “the instability of the banking system threatened stablecoins, the access routes to DeFi, which contrasted sharply with the rhetoric of regulators” who, on the contrary, incriminated the exposure to cryptos of SVB banks. and Signature to explain their fall.
In another tweet, Cathie Wood said regulators “should have addressed the crisis looming on the horizon: the mismatch in durations of assets and liabilities as short-term rates had gone up 19 times less. a year and that deposits in the banking system were declining year on year for the first time since the 1920s! “.
Elon Musk, the boss of Tesla (NASDAQ:), Twitter and SpaceX, commented on this message, to believe that the current situation has many similarities to those which led to the historic crisis of 1929.
Remember that more and more economists are highlighting the similarities between the current crisis and the 1929 crash that led to the Great Depression.