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