Crypto Exchanges Voyager & Celsius Filed For Chapter 11 - Are Investors Out of Luck?
Red Pill News
Zak Paine
4.6 • 701 Ratings
🗓️ 18 July 2022
⏱️ 22 minutes
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| 0:00.0 | All right, guys, welcome back to another episode of Red Pill News. |
| 0:17.5 | As always, I'm your host, Zach Payne, the corruption detector. And joining me today |
| 0:22.4 | once again for our monthly chat on all things. Crypto is my good friend Guy Gottslack with |
| 0:28.1 | my digital money. Guy, how's your day going? Pretty good. Given the nice bump in Ethereum, |
| 0:35.2 | I started off with a good mood boost. How are you doing? |
| 0:38.9 | I'm all right. I haven't even looked at it because of all of the craziness that's happening |
| 0:43.6 | with a couple of different platforms right now, Celsius and Voyager. I'm going to ask you about those. |
| 0:49.0 | But before we get into that, why don't you tell the audience who you are and what My Digital Money does? |
| 0:55.5 | Yeah, so I'm Guy Gottslack. |
| 1:00.5 | I'm president and co-founder of My Digital Money. We're a self-trading platform that also offers US-based customer service. So it's kind of a hybrid, more humanized approach to trading. |
| 1:05.7 | And we allow you to trade with a crypto IRA. So you have the tax advantages. You don't have to, you know, |
| 1:11.6 | pay taxes on gains, but also cash accounts as well. All right, good stuff. And of course, |
| 1:18.5 | that link is in the description below. So we had two major crypto platforms file for Chapter 11 |
| 1:26.1 | bankruptcy in the last week. |
| 1:28.1 | Both Voyager and Celsius. |
| 1:30.4 | Now, we've talked about Celsius before, and I'm just wondering if the situation is similar between Celsius and Voyager. |
| 1:38.7 | I know that Voyager is kind of unique because they had some major backers, including Mark Cuban. |
| 1:45.2 | What do you know about Voyager and what's happening there? |
| 1:48.4 | So what I do know about Voyager is, yeah, they gave some loans that ended up defaulting. |
| 1:54.9 | I mean, one of the loans that they gave was to Terra, what was not to Terror, to Three Arrow's Capital, sorry, who was invested in Terra. |
| 2:04.7 | And then what the Terra Luna crash happened, then Three Arrow's Capital defaulted on their loan. |
| 2:12.0 | And so then they ended up, you know, owing, I think it was like $250 million to Voyager. |
... |
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