Three Crypto Bankruptcies: 3AC, Celsius and Voyager. What Happens Now?- Ep. 374

Published: July 15, 2022, 7:30 a.m.

b'In a highly educational conversation, Wassielawyer, a lawyer specializing in restructuring and insolvency, discusses the bankruptcy and liquidation of Three Arrows Capital, plus sheds light on similar processes unfolding with Celsius and Voyager. Show highlights:\\n \\n Wassielawyer\\u2019s experience as a lawyer and his professional background\\n what the liquidation process looks like and what drives a company to get into this situation\\n what the creditors of 3AC can expect from the liquidation process and who will be paid first\\n why he doesn\\u2019t think the liquidators breached their fiduciary duty by not exercising the Starkware token warrants\\n what Chapter 15 bankruptcy is and what it means for a company\\n whether Zhu\\u2019s and Davies\\u2019 unknown whereabouts affect the liquidation process and whether they are likely to cooperate\\n whether 3AC counterparties will get anything back from the credits they provided\\n how Chapter 11 bankruptcy differs from Chapter 15\\xa0\\n what Chapter 11 bankruptcy filing means for Celsius and its account holders\\n what are the similarities and differences between Celsius and Voyager filings\\n \\xa0\\n \\n Thank you to our sponsors! \\n Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021\\xa0\\n \\n Ava Labs: https://www.avax.network/\\xa0\\n \\n EPISODE LINKS \\n Wassielawyer \\n Twitter: https://twitter.com/wassielawyer\\n\\n \\n 3AC: \\n Wassielawyer\\u2019s threads: https://twitter.com/wassielawyer/status/1543238225338454016?s=20&t=kXB2gr4UCkAz5p09LD24XA\\n https://twitter.com/wassielawyer/status/1538167831946473472?s=20&t=kXB2gr4UCkAz5p09LD24XA\\n \\n Unchained Newsletter: https://unchainedpodcast.com/3ac-files-for-chapter-15-bankruptcy/\\n\\n Crypto Contagion:\\xa0\\n \\xa0\\n Court order allowing subpoenas: https://www.theblock.co/post/157141/bankruptcy-court-judge-gives-green-light-to-serve-subpoenas-to-3ac-founders-for-discovery\\n\\n Previous coverage: Unchained 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 The Chopping Block: Here\\u2019s What Was So Bad About Three Arrows Capital: https://unchainedpodcast.com/the-chopping-block-heres-what-was-so-bad-about-three-arrows-capital-ep-368/\\n\\n Does Venture Capital Investment Violate the Ethos of Crypto? Sequoia Says No: https://unchainedpodcast.com/does-venture-capital-investment-violate-the-ethos-of-crypto-sequoia-says-no-ep-367/\\n\\n \\n \\n Voyager: \\n Wassielawyer\\u2019s thread: https://twitter.com/wassielawyer/status/1545827666590601216?s=20&t=kXB2gr4UCkAz5p09LD24XA\\n\\n Unchained Newsletter: https://unchainedpodcast.com/voyager-digital-files-for-chapter-11-bankruptcy/\\n\\n Bankruptcy: https://www.reuters.com/technology/crypto-lender-voyager-files-bankruptcy-2022-07-06/\\n\\n Voyager exposure to 3AC: https://www.coindesk.com/business/2022/06/22/voyager-digital-requests-loan-repayment-from-3ac-considers-issuing-default-notice/\\n\\n \\n Celsius: \\n Wassielawyer\\u2019s thread: https://twitter.com/wassielawyer/status/1536192639112183808?s=20&t=kXB2gr4UCkAz5p09LD24XA\\n\\n Celsius bankruptcy: https://www.reuters.com/technology/crypto-lender-celsius-files-bankruptcy-2022-07-14/\\n\\n Halt of withdrawals: https://blog.celsius.network/a-memo-to-the-celsius-community-59532a06ecc6\\n\\n Celsius repaying debt and claiming collateral: https://www.coindesk.com/markets/2022/07/13/wobble-in-steth-price-shows-fear-celsius-might-dump-435m-stake/\\n https://www.coindesk.com/markets/2022/07/11/celsius-reclaims-172m-collateral-from-aave-compound/\\n https://www.coindesk.com/markets/2022/07/13/celsius-pays-off-last-defi-loan-reclaims-nearly-200m-of-wrapped-bitcoin-from-compound/\\n \\n \\nLearn more about your ad choices. Visit megaphone.fm/adchoices'