Cathie Wood, the founder of Ark Investment and known as the "Goddess of Stocks" by the market.

(AFP)

[Financial Channel/Comprehensive Report] Cathie Wood, nicknamed "Goddess of Stocks" and "Sister Wood" by the market, said on Twitter on Wednesday (15th) that in terms of the recent Silicon Valley Bank crisis, the government should focus on traditional A sign of the impending collapse of the banking system, rather than a blockade of decentralized, transparent, auditable, and well-functioning financial platforms.

Due to the aftermath of the Federal Reserve (Fed)'s aggressive interest rate hikes, bank liquidity has declined.

Cathie Wood said that short-term interest rates soared 19 times in less than a year, causing a mismatch between the maturity of assets and liabilities, and the first decline in deposits in the banking system since 1920. These crises should have been overcome, but the government only focused on supervision. Decentralized platform.

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Cathie Wood pointed out that when banks in the United States faced a run on banks and paralyzed the banking system, Bitcoin, Ethereum and other encrypted networks were not affected, and the instability of the banking system has threatened stablecoins. This contrasts sharply with rhetoric about stablecoins threatening the banking system.

Historical data shows that the Great Depression occurred in the United States in 1929. At that time, the U.S. stock market collapsed, inflation remained high, financial market turmoil spread globally, and a large number of banks closed down one after another.

Former U.S. President Donald Trump said the U.S. is likely to experience an economic crisis worse than that of 1929, citing bank failures as evidence.

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