THE HASH: Hash Headlines: Top Stories of the Week
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 1 July 2022
⏱️ 23 minutes
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Summary
A roundup of the week’s most valuable crypto stories for Friday, July 1, 2022.
Missed any episodes of “The Hash” this week? Today’s recap episode will get you caught up.
“Hash Headlines” rounds up this week’s headline stories, including:
- Voyager Digital issuing default notice to Three Arrows Capital.
- Troubles at crypto mining firm Compass Mining as it reportedly fails to pay its power bills.
- Compass Mining CEO’s and CFO's resignations.
- Grayscale's lawsuit against the U.S. Securities and Exchange Commission over its bitcoin spot ETF rejection.
This episode was edited by Eleanor Pahl and our executive producer is Jared Schwartz. Our theme song is “Neon Beach.”
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Transcript
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| 0:00.0 | You're listening to The Hash Headlines on the Coin Desk Podcast Network. |
| 0:11.8 | And just a reminder, CoinDesk is a new source and does not provide investment advice. |
| 0:18.2 | Hello and welcome to The Hash. |
| 0:21.2 | We're joined today by George, Sali Wendy O and Jen Sanasi. |
| 0:26.2 | We're going to start it off with Wendy O on the latest from Voyager Digital. |
| 0:30.7 | Voyager Digital issues three arrows capital with default noticed. |
| 0:35.1 | The crypto broker is reported to have lent 3AC approximately 350 million in |
| 0:40.0 | stable coin USC and approximately 15,250 Bitcoin, which equals approximately 673 million as of today's |
| 0:49.0 | prices. And the reason why I say approximately is because we got that volatility there. Also, |
| 0:52.7 | too, it's looking like Three Arrow's capital is insolvent because they haven't responded to this request. And |
| 0:59.1 | apparently Voyager can pursue legal action. However, I don't know if they can actually pursue |
| 1:03.4 | legal action if there's nothing to take back from a company that is insolvent. Lastly, it is |
| 1:08.6 | very, very important to note that on June 22nd, Voyager released a |
| 1:13.3 | press release announcing a 200 million and 15,000 Bitcoin load from Alameda Ventures. And it is also |
| 1:21.5 | important to note that Mr. Big Daddy Chad, Sam had a personally purchased a lot of shares in Voyager. |
| 1:28.3 | But I need to get your guys' opinion on this because this is getting a little bit spicy. |
| 1:33.0 | And I have a closing thought on this story also. |
| 1:35.4 | I mean, the number $137 million of cash and crypto assets on hand at Voyager seems highly troubling. |
| 1:43.2 | That does not seem like a lot of money |
| 1:45.0 | given what's going on in terms of the loans that they made out to 3AC. |
| 1:49.5 | So again, stepping back, this is that three arrows contagion that we're seeing slowly creep |
| 1:54.6 | across every crypto lender and hurt them all badly, right? The idea here is that 3AC was down bad. |
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