Cathie Wood said the U.S. will lose its leader position in cryptocurrency ?

Cathie Wood, Founder, CEO, and Chief Investment Officer, Ark Investment Management mentioned the difficulties with regulatory systems and cited examples such as Coinbase and FTX, but it doesn't explicitly state that she believes the U.S. will lose its leader position at MPW Next Gen 2023 - The Future According To CathieWood last week.

The mention of Coinbase receiving licensing to operate in Bermuda and expanding in Singapore could be misleading. As of my knowledge cutoff in September 2021, Coinbase was primarily based in the United States and had operations in multiple countries. However, it's essential to verify the latest information regarding Coinbase's licensing and expansion plans.

The frustration over the regulatory picture for crypto in the U.S. being largely directed at the Securities and Exchange Commission (SEC) is mentioned. While there have been debates and ongoing discussions about regulations surrounding cryptocurrencies, it's important to note that regulatory approaches can vary and evolve over time.

"It would be nice if the U.S. were leading this movement, but we're losing it, and we're losing it because of our regulatory system," Wood said.

The reference to FTX's dramatic collapse may be inaccurate or incomplete. As of my knowledge cutoff in September 2021, FTX was a prominent cryptocurrency exchange that had not experienced a significant collapse. It's possible that there is confusion or an incorrect reference to another event or exchange.

The statement that Silicon Valley Bank, Silvergate, and Signature "went to the wall" during a banking crisis is not accurate based on my knowledge. These banks have not experienced notable collapses or failures as of September 2021. It's crucial to verify the latest information regarding the mentioned banks.

The characterization of Bitcoin as a decentralized, transparent, and auditable monetary system is generally accurate. However, attributing the adoption of Bitcoin to the 2008/2009 financial crisis should be approached with caution. While the crisis did contribute to public skepticism toward traditional financial systems, the factors behind Bitcoin's adoption are multifaceted and involve various economic, technological, and ideological elements.

"The reason it’s adopted is, first of all, many people like the idea of a decentralized, transparent, auditable monetary system. It was born out of the 2008/2009 crisis-, when people just lost all trust in financial services," she said.

"And, very interestingly, it took another two crises within the last year to prove the concept. FTX failed because it was centralized, opaque, and not auditable."