The Chopping Block: Heres What Was So Bad About Three Arrows Capital - Ep. 368

Published: June 30, 2022, 7:30 a.m.

b'Welcome to The Chopping Block! Crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news in the digital asset industry. In this episode, Taylor Monahan, matriarch of Metamask, joins the show to discuss the contagion of major crypto firms, the bear market, SBF saving crypto, and much more! Show topics:\\n\\nThe importance of UX and security\\n\\nHow Three Arrows Capital\\u2019s practice of borrowing to leverage their bets has caused a crisis for crypto lenders that rippled out to many customers\\n\\nHow the GBTC arbitrage trade was part of 3AC\\u2019s undoing, and how that trade was one many other crypto trading institutions had previously abandoned\\n\\nHow crypto lenders were being degens with customers funds\\n\\nWhy SBF stepped in and made sure that BlockFi and Voyager didn\\u2019t default on customers\\u2019 deposits\\n\\nWhether this whole wind-down reflects a credit cycle\\n\\nHow DeFi protocols were built to avoid these kinds of centralized finance problems\\xa0\\n\\nHow the systemic issues caused by CeFi institutions like Celsius, BlockFi and Voyager are reminiscent of the Great Financial Crisis\\n\\nWhat are the similarities between this crypto meltdown, the Mt. Gox debacle, and the 1907 and 2008 financial crises\\n\\nWhat are the consequences of losing retail money vs. institutional money\\n\\nHow surviving a credit cycle crisis creates the best risk managers\\n\\nThe lessons to be learned from all these crises\\xa0\\n\\nHow MakerDAO is trying to figure out what to do with its money\\n\\nWhat happened with Solend and why the DAO resorted to a centralized action\\n\\nWhy DeFi needs more clauses about how to handle edge cases\\n\\nThe difference between doing dumb things and wrong things\\n\\nWhy Tarun is impressed with Solana\\u2019s DAO tooling\\n\\nWhy Taylor is thankful for the bear market\\n\\n\\nHosts\\n\\nHaseeb Qureshi, managing partner at Dragonfly Capital\\n\\nhttps://twitter.com/hosseeb\\n\\nTom Schmidt, general partner at Dragonfly Capital\\n\\nhttps://twitter.com/tomhschmidt\\n\\nTarun Chitra, managing partner at Robot Ventures\\n\\n\\nhttps://twitter.com/tarunchitra\\xa0\\n\\nRobert Leshner, founder of Compound\\xa0\\n\\n\\nhttps://twitter.com/rleshner\\xa0\\n\\n\\xa0\\nGuest: Taylor Monahan\\n\\nTwitter: https://twitter.com/tayvano_\\n\\n\\nTaylor\\u2019s thread on resources to learn about all things crypto: https://twitter.com/tayvano_/status/1509380091184246784?s=20&t=kNk8fJ7pJAWfEEVZQHwpvg\\n\\n\\n\\xa0\\nEpisode Links\\n\\xa0\\n\\nCrypto Contagion\\n\\n3AC: https://blockworks.co/three-arrows-capital-brink-default-owes-voyager-657m/\\n\\n\\nVoyager\\n\\nCelsius + Goldman buyout? https://www.protocol.com/bulletins/goldman-celsius-bankruptcy\\n\\n\\nBlockFi bailout: https://www.coindesk.com/business/2022/06/21/blockfi-receives-250m-credit-facility-from-ftx/\\n\\n\\nUnchained newsletter on BlockFi\\u2019s bailout: https://unchainedpodcast.com/vitalik-says-this-deserves-mockery/\\n\\n\\nCoinFlex: https://www.bloomberg.com/news/articles/2022-06-27/crypto-exchange-coinflex-to-issue-tokens-after-withdrawal-freeze?sref=Q2SpVkJl\\n\\n\\nBabel: https://www.coindesk.com/business/2022/06/20/babel-finance-reaches-debt-agreement-with-counterparties-after-withdrawal-freeze/\\n\\n\\nUnchained Coverage: Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto: https://unchainedpodcast.com/why-possible-insolvencies-by-celsius-and-3ac-could-spell-disaster-for-crypto/\\n\\n\\nSolend DAO situation:\\n\\nUnchained Coverage: Solend and Bancor Drama: Did These DAOs Violate the Ethos of Crypto? \\u2013 Ep. 366: https://unchainedpodcast.com/solend-and-bancor-drama-did-these-daos-violate-the-ethos-of-crypto-ep-366/\\n\\n\\n https://www.coindesk.com/tech/2022/06/19/solana-defi-platform-votes-to-control-whale-account-in-bid-to-avoid-liquidation-chaos/\\n\\nCovered on Unchained Newsletter: https://unchainedpodcast.com/does-this-dao-deserve-emergency-power%e2%81%89%ef%b8%8f/\\n\\n\\nMakerDAO governance proposal: https://www.theblock.co/post/154515/maker-governance-is-voting-to-invest-500-million-in-us-treasury-bills\\n\\n\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'