The Battle Around Three Arrows Capital

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 13 July 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Chainalysis, FTX US and Ava Labs. On today’s episode of “The Breakdown,” NLW looks at the latest in the battle involving toppled former crypto giant hedge fund Three Arrows Capital, including accusations from liquidators the fund’s founders were unresponsive, and accusations from Three Arrows that liquidators were causing harm to the fund by not exercising StarkWare warrants. NLW also gives the latest on Celsius, including why it’s covering its DeFi loans first. - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company safeguards your crypto by relying on five key fundamentals including real-time auditing and insurance on custodial assets. Learn more at nexo.io. - Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Ava Labs releases Core, the free, non-custodial browser extension, built for the power of Avalanche. Core is an all-in-one operating system bringing together Avalanche apps, Subnets, bridges and NFTs in one seamless, high-performance experience. Eager to start using Web3 dapps to their fullest potential? Download today at core.app! - “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. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: Michal Grosicki/EyeEm/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	This really is the dominant crypto narrative right now, the thing that is driving so many discussions in this space.
0:06.7	It is the twin negative force alongside Fed tightening in the name of inflation fighting, which is driving crypto markets sideways and down.
0:14.8	As you can probably tell just listening to this, it doesn't seem anywhere near resolved.
0:19.3	And in fact, I would go so far as to say that
0:20.8	it's not even resolved from a narrative perspective, say nothing of legal processes which can take
0:25.8	much longer. Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro,
0:34.4	Bitcoin, and the big picture power shifts remaking our world. The breakdown is
0:38.4	sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk.
0:45.9	What's going on, guys? It is Tuesday, July 12th, and today we are catching up on everything
0:51.2	that has been going on with three arrows, capital, and Celsius.
0:55.1	Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,
0:59.6	give it a rating, give it a review, or if you want to dig deeper into the conversation,
1:04.2	come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly
1:08.5	slash breakdown pod. Also, this week, I am very excited to have
1:13.3	Aval Labs as an additional sponsor. Did you know that you can bridge Bitcoin natively across
1:18.2	the Avalanche bridge and take advantage of the growing DFI ecosystem on Avalanche? This is just one of the
1:23.8	innovative features of CORE, the new non-custodial browser extension and wallet developed
1:27.9	by Avalabs. Core is engineered for Avalanche users to have the most secure and seamless
1:32.4	Web3 experience. Easily swap assets, display your NFTs in style, and store your assets in a
1:38.2	ledger-enabled wallet. Plus, you can put your real dollars in your Core wallet in just a few clicks.
1:44.1	Go to core.com to access the full
1:45.9	power of Web 3 on Avalanche. Thanks again to Avalabs for sponsoring the show this week. And finally,
	...

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