Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is produced and distributed by CoinDes.

What's going on, guys?

It is Tuesday, January 3rd, and today on Bitcoin's 14th birthday, we are talking about why

the debate is all around Barry versus the Winklevi.

Before we get into that, however, if you are enjoying the breakdown, please go subscribe

to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show

notes or go to bit.ly slash breakdown pod. All right, folks, well, I hope you have had a great

holiday season and a very happy new year. And boy, this year is off with a bang. Yesterday for most businesses in the

US was a day off, which is what happens obviously when New Year's falls on a Sunday. But that

didn't stop some of the biggest drama in crypto for coming right up to the four. So a quick recap of

the Genesis DCG Gemini situation. Genesis is a digital currency group

subsidiary, by the way, so is CoinDesk. And Genesis has been caught up in a lot of the

crypto-institutional failures of this year. In July, court documents from the liquidator of

Three Arrows Capital showed that DCG's Genesis had lent three arrows capital a total of $2.4

billion. 3AC had put up approximately $1.2 billion worth of crypto, as it was valued at the time

as collateral. In the court filings, it showed that DCG's claim against 3AC was by far the largest

at $1.2 billion. The next biggest creditor was Voyager Digital,

whose claim was $687 million, and then there was one more claimant with $302 million, and the

rest were in the lowly eight figures. At the time, a spokeswoman for DCG said both the

DCG and Genesis balance sheets remain strong. With no remaining exposure to three arrows capital,

...