Nicolas Cary, Blockchain.com’s co-founder, rebuffed Cathie wood after an investor attacked the crypto company by questioning its valuation.

Look at Blockchain.com’s valuation in the last year. Coinbase is only 40%. This is absurd,” Ark Invest’s CEO Wood stated to CNBC on Tuesday.

Coinbase is better, more diverse than Coinbase. It is also a better-managed company, I’d argue.

Blockchain.com offers cryptocurrency wallets and trading platforms. It is also an opponent to Bitcoin. Coinbase. Blockchain.com remains a private business. Cathie Wood, Ark Invest funds holds shares of Coinbase which is listed in America. Over the last year, Coinbase shares have fallen more than half off.

Wood made these comments in response to a question about the valuation of technology stocks when interest rates rise. She discussed the distinction between technology company valuations in public and private markets.

Blockchain.com has increased threefold over the past year while Coinbase is at 40%. Do you find that this makes sense? The private market is more able to do this than the public. Wood explained that public markets don’t perform well because they do not conduct research.

Wood was criticized by Cary, who is also co-founder of Blockchain.com and Vice Chairman.

There is a clear difference in private and public markets, and Cathie has had his position rewritten. What’s most interesting is that, yes, our company valuation, the company’s value, tripled in context of a global Pandemic, collapse in tech equities, and an outbreak in land wars in Europe,” Cary said to CNBC on Wednesday.

“Coinbase’s position is not well understood in the market … in the long term though I think both companies have a lot of upside, and our recent investors are very excited about our future. “We’ve worked hard to create a revenue mix that produces better quarterly results.

When pushed to respond to Wood’s specific comments on Blockchain.com’s management, Cary said: “I think the market is pretty clear — her position is down 50% and ours is up 3 X so…”

Cary explained that Blockchain.com takes a “patient approach,” and it is currently “well capitalized.”

“Tech equities are clearly suffering, Cathie has positions all over the place. We’ll take our time and not rush to make any decisions. Cary indicated that we need to understand the crypto market better.