Cathie Wood, founder and CEO of American investment management firm Ark Invest has praised Bitcoin and Ethereum, noting that despite suffering sharp price drops following the collapse of FTX, they were both “on the right track.”

Speaking in a Monday interview, Wood’s posited that the fact that the technical aspects of the two cryptocurrency networks were unaffected by the recent debacle of top crypto firms proved the immutability of blockchain technology.

“Sam Bankman Fried did not like Bitcoin, why didn’t he like it? Completely decentralized, transparent, he couldn’t control it. FTX, Celsius and 3AC completely opaque and centralized. Those were the companies that went under,” Woods told CNBC’s “Squawk on the Street” host Carl Quintanilla.