BREAKDOWN: Genesis Files for Chapter 11

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CoinDesk

Business News, Daily News, News, Tech News

4.7 • 698 Ratings

🗓️ 20 January 2023

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

The bankruptcy filing came late Thursday night. After weeks, if not months, of speculation, Genesis has finally filed for Chapter 11 bankruptcy protection, citing more than $5.1 billion in liabilities. On today’s episode, NLW looks at the implications of the filing plus the battles to come. He also covers the FTX hearing on the suitability of representation by Sullivan & Cromwell. - Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26–28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Swoon” by Falls. Image credit: ZargonDesign/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:45.6	That's audible.com slash Wondery UK.
0:53.8	Welcome back to The Breakdown with me, NLW.
0:59.0	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
1:04.9	The breakdown is produced and distributed by CoinDesk.
1:10.2	What's going on, guys? It is Friday, January 20th, and today we are closing one chapter,
1:16.1	a chapter 11, if you will, of one of the big sagas in crypto.
1:20.6	A quick note before we dive into that, there are two ways to listen to the breakdown.
1:24.2	You can hear us on the CoinDesk Podcast Network, which comes out every afternoon and
1:27.8	features other great shows alongside the breakdown, or you can listen on the breakdown-only feed,
1:32.0	which comes out a few hours later in the evening. Wherever you listen, if you would take the time
1:35.7	to leave a rating or a review, it would make a huge difference, and I so appreciate it.
1:40.1	All right. Now, to today, we have been covering this saga of Genesis and DCG for the last several months,
1:46.2	right up to yesterday when we discussed how the community was thinking about a possible Genesis bankruptcy.
	...

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