THE HASH: Report Reveals Behind-the-Scenes Concerns at Crypto Lender Celsius and Dubai Unveils Metaverse Strategy
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 19 July 2022
⏱️ 29 minutes
🧾️ Download transcript
Summary
The most valuable crypto stories for Tuesday, July 19, 2022.
Former Celsius Network employees reveal internal concerns with the company in a new report from CNBC. The investigation details some of the firm's alleged missteps years before it filed for bankruptcy. "The Hash" hosts discuss the latest headlines surrounding Celsius and crypto hedge fund Three Arrows Capital. Plus, a look at Dubai's bet in becoming one of the world's top 10 metaverse economies.
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 | This is the hash podcast. |
| 0:10.0 | Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more, with stories that matter to the crypto world. |
| 0:17.3 | All on the hash for your ears. |
| 0:20.5 | You're listening to the Coin Desk Podcast Network. |
| 0:24.5 | Hello, everyone, and welcome to The Hash on Coin Desk TV and the Coin Desk Podcast Network. It's Tuesday, |
| 0:31.6 | and you know, we love to talk about tacos here on the hash on a Tuesday and even eat them for |
| 0:35.9 | lunch after. So if you are a taco sponsor, |
| 0:39.2 | please have your people. Reach out to our people. We would love that. I'm Jen Sanasi on today's |
| 0:45.2 | show. We have Wendy O. Will Foxley and David Morris, a show packed full of ethical dilemmas and then one metaverse story at the end. So let's kick it off. |
| 0:57.8 | David, what you got for us? Kind of a huge flood of new information yesterday via a 1,000 plus page |
| 1:06.2 | liquidation filing in Singapore in the matter of Three Era's Capital. It looks like the document was actually |
| 1:12.0 | drafted and dated about the seventh of this month, but it just became public yesterday-ish, |
| 1:18.3 | maybe a little bit over the weekend. And for those who aren't up to speed, Three Arrow's Capital |
| 1:22.7 | is the apparently way bigger than we thought and way more indebted than we thought hedge fund |
| 1:28.5 | that had been a sort of poster boy for crypto success over 2020 and 2022, |
| 1:34.6 | but has turned out to be a little bit more fragile than we thought. |
| 1:37.8 | This obviously is a huge document that we're still working through as reporters, |
| 1:41.9 | but there are three new pieces of information that I kind of want to |
| 1:45.6 | highlight, and then maybe we can talk through them one by one. But we do know now that Genesis, |
| 1:51.0 | which is a coin desk sibling company, is apparently owed $1.2 billion by three arrows, which is |
| 1:58.1 | considerably more than we thought. They have already liquidated the |
| 2:01.4 | collateral on those positions. I'm not entirely clear on whether that one point two is minus or |
... |
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