Crypto Updates: Voyager files bankruptcy, Celsius pays debt, + Jason Q&A | E1501

This Week in Startups

Jason Calacanis

Technology

4.4 • 1.3K Ratings

🗓️ 7 July 2022

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Molly is out today, but don’t worry- we still have crypto news to cover. Crypto firm Voyager Digital filed for bankruptcy (2:14), and crypto loan company Celsius paid some debts (10:43). Finally, Jason takes some questions in today’s Ask Jason segment (25:35)!

Voyager Bankruptcy Filing: https://cases.stretto.com/public/x193/11753/PLEADINGS/1175307062280000000036.pdf

(0:00) Jason introduces today's show!

(2:14) Crypto Update: Voyager Digital filed Chapter 11 bankruptcy late last night

(9:31) Embroker - Get an extra 10% off insurance for your business at https://Embroker.com/twist

(10:43) Celsius just unlocked 2000 “wrapped Bitcoin” (~$40M worth) by paying down ~$183M of debt to another crypto lender

(24:21) Thorne - Personalized, science-back wellness. Get 10% off your first order at thorne.com/u/TWIST.

(25:35) Ask Jason: Jason answers your questions

(26:27) Would you ever apply to Shark Tank as a judge or create your own version with the besties?

(29:23) Trying to bootstrap as long as possible, but when is it ok to quit your day job?

(34:16) Indochino - Get $50 off any purchase of $399 or more by using code TWIST at checkout https://www.indochino.com

(35:34) When a previous investment asks for more money, how do you decide whether or not to double down?

(41:56) I’m about to raise a seed round… should growth be the target or generating positive cash flow?

(45:04) What current FAANG CEOs would you like to interview? What insights would you look for?

(48:00) What are “pre” and “post” money?

(48:43) Do you entertain pro-rata multiples?

(58:31) How is the electric bike effort going?

(1:04:00) What Gen Z startups have excited you from the OK Boomer segment or your staff?

(1:11:31) Outro + Plugs

Transcript

Click on a timestamp to play from that location

0:00.0	Hey, everybody, welcome to Wednesday.
0:01.8	Yes, we're almost halfway done with the week and Molly's out today.
0:06.4	So I'll be doing a solo dolo.
0:08.0	I'm going to do a bunch of crypto news at the top.
0:10.1	And then some ass Jason's at the bottom, crypto firm,
0:12.9	lawyer, digital as you may have heard last night filed for bankruptcy.
0:17.1	This is on top of crypto loan company, Celsius, being in the news again.
0:21.1	Today, they paid back almost 150 million to a decentralized lending platform maker.
0:26.7	That released $40 million with a Bitcoin as they posted collateral.
0:29.7	And all these shell games and loans are starting to get worked out as crypto has collapsed.
0:35.9	So we're seeing a massive shakeout and chaos continuing in the crypto space.
0:40.9	We'll talk a little bit about why this is all happening.
0:43.2	And then my predictions of where it winds up.
0:45.6	And then I'm going to answer questions from our Twitter community,
0:48.3	which lives at this week in startups.com slash TC.
0:51.1	That'll give you a link there.
0:52.2	And I'll take some live from the audience at youtube.com slash this week in.
0:56.1	It's going to be a great show.
0:57.0	Stick with us.
0:58.2	This week in startups is brought to you by Embroker.
1:02.5	Embroker startup insurance program helps startups secure the most important types of insurance at a lower cost and with less hassle.
1:11.3	Save up to 20% off of traditional insurance today at Embroker.com slash twist.
	...

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