Wood: Cannot Comment on Tether Funding Round

Watch Wood: Cannot Comment on Tether Funding Round - Bloomberg on Dailymotion

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00:00When it comes to some of the investments that you're making, Bloomberg News has reported that

00:04you could be one of the backers behind Tether, for example, in a major funding round. Is that

00:10correct? Is ARK backing Tether? We can have no comment on that. So that's what I'll say there.

00:20I will say you'll see that we have we have Bakhdats and Circle. So we're very well exposed to this

00:30crypto cycle. We think stable coins generally and of course Tether and Circle have 90 percent of the

00:37stable coin market now. We think that is a very important entree. The holders of stable coin will

00:45have an entree into the DeFi ecosystem. So decentralized financial services that will now take place on

00:54public blockchains. So we think that's really the definition of the next generation Internet. It's the

01:04layer of the Internet that was not built early on because in the late 80s, early 90s, no one expected

01:10financial services to take place on the Internet. So finally, finally, 30 years later, we're getting

01:18the layer of the Internet that is going to enable us. So, Kathy, you mentioned DATS. ARK W has a big

01:24holding of Tom Lee's Bitmine and Brera Holdings, which is now Soulmate. I want to get your take on

01:29what you think of DATS versus ETFs. Why would DATS be a better way or a preferred way of investing

01:36as opposed to just in the coins themselves? Yes. Well, one of the reasons we did not choose to

01:43invest in one of the Ether ETFs is at least as of now, there will be that they will not be allowed

01:51to stake. And we think staking for yield is a very important part of the Ether Ethereum story.

02:00We were having a lot of trouble, therefore, getting access to Ether in our portfolio. So,

02:09when Bitmine Immersion came along, we thought that would be a great opportunity after it sold off

02:17significantly following the burst. We did take our position. And same with Soulmate. We have a lesser

02:26exposure to Solana. But, you know, we now have exposure to the big three, Bitcoin, Ether,

02:32and Solana. And we think all three are going to play an important role.