Blockchain.com co-founder Nicolas Cary blasted Cathie Wood after the billionaire investor question the valuation and management of the crypto space.
“If you look at the others like Blockchain.com, its valuation over the past year has tripled while Coinbase in our portfolios is down 40%. That makes no sense,” Wood, the CEO of Ark Invest, told CNBC on Tuesday.
“Coinbase is a far better and well-diversified company, right? And I would argue better-managed company.”
Blockchain.com is a crypto exchange and wallet. The platform is a rival to Coinbase and Binance, although it’s still a private company. Cathie Wood’s Ark Invest funds hold shares of Coinbase, which is listed in the United States. Shares of Coinbase are down more than 50% over the past year.
“This (Blockchain.com) is up threefold in one year and Coinbase is down 40%. Does that make any sense to you? I think the private market has this more right than the public market. And the reasons the public markets aren’t efficient is that they are not doing the research,” Wood said.