Why the Messy 3AC, Celsius, and Voyager Bankruptcies Will Drag on for Years - Ep.377

Published: July 26, 2022, 7:30 a.m.

b'Two crypto law experts, WassieLawyer and Adam Levitin, analyze the bankruptcies of 3AC, Celsius, and Voyager. Show highlights:\\n the difference between Voyager and Celsius \\u201ccustody\\u201d and \\u201cearn\\u201d deposits\\n why Celsius commingling customer custody and earn deposits could make it harder for creditors to get their money back\\n what similarities and differences the Voyager and Celsius bankruptcies have\\n how Chapter 11 bankruptcy works\\n why Wassie and Adam believe Celsius might have engaged in shady business practices, whereas they believe Voyager was just an irresponsible lender\\n what the latest is on the 3AC bankruptcy and the location of Kyle Davies and Zhu Su\\n what Celsius and Voyager can clawback from 3AC\\n how Alameda fits into the Voyager bankruptcy case\\n whether creditors will receive funds back in crypto or dollars\\n the three types of ways creditors can \\u201cclaw back\\u201d funds in a bankruptcy case\\n why Wassielawyer and Adam believe Celsius\\u2019 Chapter 11 plan to restructure around mining is so weird\\n whether the founders from 3AC, Celsius, or Voyager will see jail time\\n Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021\\xa0\\n Ava Labs: https://www.avax.network/\\xa0\\n Oasis: https://oasisprotocol.org/grant-programs?utm_source=unchained&utm_medium=partnership&utm_campaign=podcast-oasis-grants-program\\xa0\\n \\xa0\\n Episode Links \\xa0\\n Adam Levitin \\nhttps://twitter.com/AdamLevitin\\xa0\\n \\xa0\\n Adam Levitin 3AC/Celsius/Voyager Content\\n https://twitter.com/AdamLevitin/status/1549935271323607040\\n \\n https://www.thedeal.com/restructuring/oped-looming-legal-issues-in-cryptocurrency-bankruptcies/\\xa0\\xa0\\n \\n https://www.thedeal.com/restructuring/oped-crypto-winter-arrives/\\xa0\\xa0\\n \\n https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4107019\\xa0\\n \\n https://twitter.com/AdamLevitin/status/1549142827774447619\\xa0\\xa0\\n \\n https://twitter.com/AdamLevitin/status/1548727063930077188\\xa0\\xa0\\n \\n https://twitter.com/AdamLevitin/status/1547945325125480451\\xa0\\xa0\\n \\n https://twitter.com/AdamLevitin/status/1547699788279193600\\xa0\\xa0\\n \\n https://twitter.com/AdamLevitin/status/1547584853180162049\\xa0\\n \\n https://twitter.com/AdamLevitin/status/1547389680198508546\\xa0\\xa0\\n \\xa0\\n WassieLawyer\\n \\nhttps://twitter.com/wassielawyer\\xa0\\n \\xa0\\n WassieLawyer 3AC/Celsius/Voyager Content\\n \\n https://twitter.com/wassielawyer/status/1543238225338454016\\xa0\\n https://twitter.com/wassielawyer/status/1538167831946473472\\n https://twitter.com/wassielawyer/status/1545827666590601216\\n https://twitter.com/wassielawyer/status/1536192639112183808\\n \\xa0\\n Celsius Content\\n https://www.coindesk.com/policy/2022/07/19/celsius-lays-out-mining-focused-reorganization-plan-at-first-bankruptcy-hearing/\\n \\n https://twitter.com/BradyDale/status/1549415579399979008\\xa0\\n https://www.cnbc.com/2022/07/19/former-employees-say-issues-plagued-crypto-company-celsius-years-before-bankruptcy.html\\n \\n https://www.coindesk.com/business/2022/07/18/celsius-outlines-next-steps-as-bankruptcy-proceedings-begin/\\xa0\\n https://twitter.com/wassielawyer/status/1548947257961086976\\n \\n https://www.reuters.com/technology/crypto-lender-celsius-files-bankruptcy-2022-07-14/\\xa0\\n \\n https://blog.celsius.network/a-memo-to-the-celsius-community-59532a06ecc6\\xa0\\n \\n https://www.coindesk.com/markets/2022/07/13/wobble-in-steth-price-shows-fear-celsius-might-dump-435m-stake/\\xa0\\n https://www.coindesk.com/markets/2022/07/11/celsius-reclaims-172m-collateral-from-aave-compound/\\n \\n https://www.coindesk.com/markets/2022/07/13/celsius-pays-off-last-defi-loan-reclaims-nearly-200m-of-wrapped-bitcoin-from-compound/\\xa0\\n \\n Voyager Content\\n \\n https://unchainedpodcast.com/voyager-digital-files-for-chapter-11-bankruptcy/\\xa0\\n \\n https://www.reuters.com/technology/crypto-lender-voyager-files-bankruptcy-2022-07-06/\\xa0\\n \\n https://www.coindesk.com/business/2022/06/22/voyager-digital-requests-loan-repayment-from-3ac-considers-issuing-default-notice/\\xa0\\n \\xa0\\n 3AC\\n \\n https://unchainedpodcast.com/3ac-files-for-chapter-15-bankruptcy/\\xa0\\n https://www.theblock.co/post/157141/bankruptcy-court-judge-gives-green-light-to-serve-subpoenas-to-3ac-founders-for-discovery\\n \\n https://unchainedpodcast.com/why-possible-insolvencies-by-celsius-and-3ac-could-spell-disaster-for-crypto/\\xa0\\n \\n https://unchainedpodcast.com/the-chopping-block-heres-what-was-so-bad-about-three-arrows-capital-ep-368/\\xa0\\n \\n https://unchainedpodcast.com/does-venture-capital-investment-violate-the-ethos-of-crypto-sequoia-says-no-ep-367/\\xa0\\n \\n https://unchainedpodcast.com/three-crypto-bankruptcies-3ac-celsius-and-voyager-what-happens-now-ep-374/\\xa0\\n \\xa0\\n Other\\n Kirkland and Ellis are running both bankruptcies\\n \\n https://twitter.com/kadhim/status/1549864279536553984\\xa0\\n \\n https://twitter.com/tier10k/status/1550133741158219776 (made $1m/week)\\n \\n What is happening to assets in bankruptcy cases\\n \\n https://twitter.com/OGLawPanda/status/1549357959746043909\\xa0\\n \\n No exposure for Coinbase\\n \\n https://finance.yahoo.com/news/coinbase-celsius-voyger-three-arrows-exposure-142730485.html\\xa0\\n \\n KeyFi lawsuit\\n https://fortune.com/2022/07/08/crypto-lender-celsius-ponzi-scheme-used-customer-funds-manipulate-token-prices-jason-stone-says-lawsuit/\\n \\n 3AC founders break silence\\n \\n https://cryptobriefing.com/the-whole-situation-is-regrettable-3ac-breaks-silence-to-bloomberg/\\xa0\\n \\n \\nLearn more about your ad choices. 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