Collapses, Bankruptcies, and Fraud: How 2022 Became the Year of Crypto Carnage - Ep.436

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 27 December 2022

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode of Unchained looks back on a tumultuous year for the cryptocurrency industry in 2022. Significant events such as the bankruptcies of FTX, Three Arrows Capital, Celsius, Voyager, BlockFi, and the collapse of Terra/LUNA, led to billions being lost due to market plunges and also due to numerous hacks. This year also brought the Ethereum Merge, one of the most awaited events in crypto's short history. Amidst the turmoil, true believers like Chris Burniske saw a silver lining, while the crypto community watched for the further fallout of this year’s crypto contagion to play out. Thank you to our sponsors! Crypto.com Chainalysis Minima DeFi Saver DAO attacker revealed: Exclusive: Crypto’s Biggest Whodunnit: Who Was Behind the 2016 DAO Attack on Ethereum? Exclusive: Austrian Programmer And Ex Crypto CEO Likely Stole $11 Billion Of Ether Ukraine War: How Ukraine Is Leveraging Crypto in Its Fight Against Russia - Unchained Podcast The Chopping Block: In 'the First Crypto War,' How Should the Money Be Spent? - Unchained Podcast Ukraine Has Received $150 Million in Crypto. Here’s How It Is Being Used - Unchained Podcast Hacks and exploits: Bridge Hacks Have Caused ~$1 Billion in Losses. Here’s Why Bridge Security Is Tricky - Unchained Podcast Terra collapse: Did Someone Deliberately Attack Terra/Luna to Kick off a Death Spiral? - Unchained Podcast Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed - Unchained Podcast The Chopping Block: Kevin Zhou on Why He Knew Terra Would Crash - Unchained Podcast The 5 Biggest Lessons From Terra/Luna's Collapse, According to Tascha Che - Unchained Podcast Bankruptcies - 3AC, Celsius and Voyager: Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto - Ep. 364 - Unchained Podcast The Chopping Block: Here’s What Was So Bad About Three Arrows Capital - Ep. 368 - Unchained Podcast Three Crypto Bankruptcies: 3AC, Celsius and Voyager. What Happens Now?- Ep. 374 - Unchained Podcast Tornado Cash: Tornado Cash Sanctioned. Did the Government Overstep Its Bounds? - Ep. 384 - Unchained Podcast The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash? - Ep. 386 - Unchained Podcast Is TRM Labs Blocking Addresses From DeFi Protocols? Ari Redbord Says No - Ep.387 - Unchained Podcast Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? - Ep. 390 - Unchained Podcast The Chopping Block: Why DeFi May Be Over-Complying With Tornado Cash Sanctions - Ep. 392 - Unchained Podcast The Merge: With the Merge, Will Ethereum Take Over Bitcoin’s Title as Digital Gold? - Ep. 389 - Unchained Podcast Arthur Hayes, Former Ethereum Skeptic, on Why the Merge Makes Him Bullish on ETH - Ep. 393 - Unchained Podcast Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury- Ep.394 - Unchained Podcast Did the Merge Make Ethereum ‘the Most Secure Blockchain in the World’? – Ep. 397 Do Kwon comes on Unchained: Do Kwon of Terra: ‘It Was Never Really About Money or Fame or Success’ – Ep. 408 NFT royalties: The Chopping Block: Two on Two Debate: NFT Royalty Throwdown! - Ep. 409 - Unchained Podcast Are NFT Royalties the Way? How to Build a Sustainable Creator Economy - Ep. 414 - Unchained Podcast FTX Collapse: The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? - Ep. 418 - Unchained Podcast Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets - Ep. 419 - Unchained Podcast Will FTX Customers Ever Recover Their Assets? Two Insolvency Experts Weigh In - Ep. 420 - Unchained Podcast The Chopping Block: Why Lenders Didn't Liquidate Alameda When It Was Underwater - Ep. 421 - Unchained Podcast Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX? - Ep. 422 - Unchained Podcast Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion - Ep. 423 - Unchained Podcast The Chopping Block on FTX/Alameda: Is Sam Bankman-Fried 'Crypto Kanye'? - Ep. 424 - Unchained Podcast Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Crypto moves at lightning speed. For the latest crypto updates, be sure to subscribe to our daily newsletter at unchainedcrypto.substac.com.
0:09.0	Again, that's unchainedcrypto.substac.com.
0:16.0	Hi, everyone. In this end of year episode of Unchained, I reflect on the roller coaster year that the crypto industry endured in 2022.
0:24.0	From the markets plummeting to the billions lost in hacks, the Ethereum merge, the bankruptcies of FTX, three-era's capital, Celsius Voyager, BlockFi, and the collapse of Teraluna, few of us could have predicted how chaotic and unprecedentedly crazy a year it would be for the crypto industry.
0:40.0	Here's Kobe and Chris Berniske and their retrospective on the year.
0:44.0	Oh, Chris, here's lost my money this year. Me or you?
0:48.0	We both lost, but we're both surviving.
0:51.0	Yeah, it's me then.
0:55.0	Chanalysis demystifies cryptocurrency by providing industry leading compliance, market intelligence, and investigation support for all crypto assets, for organizations like Gemini, crypto.com, and BlockFi.
1:09.0	Maximize your potential with the leading blockchain data platform by visiting chanalysis.com slash unchained.
1:17.0	Minima is a new layer one blockchain designed to run in full on a smartphone. Join over 300,000 Minima node runners on the incentive program today to start earning every month until main net launch.
1:30.0	Get your notes set up at Minima.global.
1:33.0	Buy, earn, and spend crypto on the crypto.com app. New users can enjoy zero credit card fees on crypto purchases in the first seven days.
1:41.0	Download the crypto.com app and get $25 with the code Laura link in the description.
1:47.0	DeFi Saver is an all-in-one management app for top lending protocols on Ethereum, such as Ave, Maker, Liquity, and Compound.
1:55.0	They're best known for their one transaction rebalancing options and automated liquidation protection features.
2:00.0	And you can check them out on Ethereum, Arbitram, and Optimism today.
2:05.0	January 1st, Bitcoin at $47,650, ETH at $3,750.
2:14.0	This was a brutal year for the crypto industry. Through it all, I aimed to bring you valuable insights and information on the most important news.
2:21.0	2022 will certainly go down in the history books for crypto, and hopefully the industry can take away some good lessons from these challenging events.
2:29.0	Just one note, as we present each clip, I'll be noting the Bitcoin and Ether prices from the day that episode was published.
2:35.0	Without further ado, let's get started.
	...

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