- The CEO of Morgan appeared on a YouTube channel hosted by Austin Arnold.
- He opinionated about XRP, Cardano, and FTX also.
Austin Arnold, the host of a YouTube channel, Altcoin Daily interviewed Mark Yusko, the chief executive officer of Morgan Creek Capital Management. In that interview, the CEO opinioned that XRP and Cardano are similar as the creators and clients don’t appear to love them despite their popularity.
Also, Cardano reminds the CEO of XRP. “The people love it. However, the creators and the clients don’t appear to love it. And, this is the thing I can’t actually understand.” Meanwhile, Yusko purports that he will not go to the extent of contrasting XRP and ADA to meme coins like Dogecoin and Shiba Inu. The investor purports that the very famous cryptocurrencies should fall to zero.”
The CEO about FTX collapse
When the host asked about the change that will be drawn after the FTX collapse, the CEO answered:
“I think it actually doesn’t change anything as FTX was not building anything and it was not a protocol itself. Along this, it wasn’t building a new monetary system like Bitcoin or any user interface. It was just a bank.”
He further went on to state that “the industry is very interconnected, especially at the leverage level and so the unwinding of the leverage and people who depended on FTX or Alameda being truthful about the assets they owned, it turned out they couldn’t rely on that and it comes ways it argues for faster movement towards the D5 future that I think we all embrace which is we don’t want to trust.”
Morgan Creek’s Cryptocurrency
Yusko also revealed that Morgan Creek’s cryptocurrency index fund did not indulge in XRP due to cryptocurrency was very firmly held. He pointed out the fact that the majority of the current tokens are managed by Ripple, a centralized firm. This came just months prior to Ripple was accused by the Securities and Exchange Commission of the United States on the matter of unlisted sales of the XRP token.
The Morgan Creek Bitwise Digital Asset index fund does have a 2.2% share in ADA. In reality, the native cryptocurrency the Cardano blockchain is the third-largest holding. In the latest interview, Yusko revealed that he loves Avalanche (AVAX) along with Polkadot and Cosmos. “I think we can actually make good cases about why they could be winners,” he said.
Source: https://www.thecoinrepublic.com/2022/12/01/morgans-ceo-developers-and-clients-dont-like-xrp-and-cardano/