Cathie Wood: The Fed Is the 'Big Blame' for SVB, Signature's Bankruptcy

In a tweet, Cathie Wood , founder of ARK Invest, said on Twitter that cryptocurrencies did not bankrupt Silicon Valley Bank and Signature, and the "culprit" was the Federal Reserve . Deposits left the U.S. banking system due to a shortage of venture capital funding and higher yields in money market funds. Cathie Wood believes that regulators are using cryptocurrencies as a scapegoat for their failures in the traditional banking industry.