Key Points:

• Cathie Wood believes that Coinbase will benefit from Binance’s current problems.
• This makes it feasible for Coinbase to wipe out the most grounded rival on the lookout.
• While both of the world’s biggest cryptographic money trades face a SEC claim for purportedly selling unregistered protections, she said Coinbase has the advantage.

Bloomberg reports that Ark Invest CEO Cathie Wood stated in an interview that Coinbase would benefit from Binance’s regulatory issues in the United States because it would eliminate its main competitor.

As per Cathie Wood, this is a lucky time for Coinbase to dispose of its most powerful rival on the lookout.

“We have the competition for Coinbase disappearing, so that’s a good thing longer term for Coinbase,” the statement reads. “We have Binance under increasing regulatory scrutiny for more criminal activities, including fraud.” On Thursday, Wood told Bloomberg Television.

Wood stated that the majority of the other allegations on Binance have nothing to do with Coinbase and that Coinbase has not been accused of any criminal activity.

Binance and Coinbase have been accused by the SEC of operating unregistered exchanges and offering securities, including Binance’s digital assets, that are not registered: BNB and Binance USD (BUSD), a stablecoin

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With respect to Binance, nonetheless, the US Monetary Administrative Authority has blamed digital currency trade Binance and its pioneer Changpeng Zhao of working a “trick site”, charging him and his trade on 13 counts.

“Coinbase and Binance are facing questions about what a security is and about staking,” but “most of the other questions about Binance have nothing to do with Coinbase.”

Wood also said that she still has faith in Bitcoin’s $1 million goal. The more unsure and unstable the worldwide economy is, the more Ark has confidence in Bitcoin. The company asserts that the Bitcoin supply chain will benefit as a result of the rising position of Bitcoin amid inflationary concerns. Due to its antidote to counterparty risk in the conventional financial system, Bitcoin works well in this circumstance.