This is the hash podcast.

Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more with stories that matter to the crypto world.

All on the hash for your ears.

You're listening to the Coin Desk Podcast Network.

Hey, everybody. Welcome to the hash. It's CoinDest TV. Maybe you're listening on the podcast.

We don't care. We're just happy you're here. It's Tuesday. I'm Zach Seward. We got Wendy O,

Jen Sanassie, and Will Foxley. We are here to get you caught up on all the crazy things going on in the world of crypto. And Will is leading us off today. Take it away.

Start out with an interesting story. BlockFi is getting a $250 million revolving line of credit from SBS FTX. This is to shore up their accounts. We don't have a lot of information about

BlockFie's books, but if they're getting this sizable of a loan from FTX, that means that

things might not be in very good shape. This comes, of course, after what happened with Celsius

and three euros capital, the last two weeks where both those firms either had to suspend and withdraws

for Celsius and then three rows capital just went belly up entirely. BlockFi took a pretty large

hit from what happened with three euros capital. They were able to liquidate and seize a bunch

of collateral that they had on the books from three euros capital. But as a part of that,

you're going to take some sort of losses. We don't know what those losses are, but you can speculate they're at least decent if

BlockFi is now in position that they're having to take out this credit from SBF.

Zach, I want to throw this one over to you.

We're continuing to see contagion within crypto markets where one financial player blows

up, another financial player is affected by that.

And you leads to this domino theory, right, where everyone starts collapsing in on themselves.

But it seems like we might have a savior in our midst.

Sam Bickman-Fried, what's your take on that?

...