Why 3AC's Collapse Could Spell the Start of a Crypto Credit Crunch - Ep. 376

Unchained

Laura Shin

Tech News, Business News, News

4.6 • 1.3K Ratings

🗓️ 22 July 2022

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Adam Cochran, partner at Cinneamhain Ventures, discusses the impact of 3AC’s impending liquidation. Show topics: why 3AC founders (and family members) are listing themselves as creditors what the “corporate veil” is and why it matters regarding 3AC where retail investors stand in the pecking order of creditors why Adam doesn’t believe we know the full story about 3AC’s downfall, despite liquidators leaking a 1,000-page report about it what creditors might do with 3AC’s yacht why Adam is less worried about the health of GBTC in light of recent 3AC filings what effect 3AC’s fall will have on Genesis and Digital Currency Group why creditors might prefer liquidations to be paid out in equity compared to cash in this environment how 3AC’s liquidation is impacting retail investors at Voyager and Celsius why there could be a crypto credit crunch coming soon Thank you to our sponsors! 1inch: https://1inch.io/ Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 Adam Cochran Twitter: https://twitter.com/adamscochran Coverage Adam Cochran Twitter thread on 3AC liquidation: https://twitter.com/adamscochran/status/1543253799929876480 Adam Cochran Twitter thread on 3AC contagion: https://twitter.com/adamscochran/status/1546477191420170240 3AC founders subpoenaed https://www.theblock.co/post/157141/bankruptcy-court-judge-gives-green-light-to-serve-subpoenas-to-3ac-fouSubpoenaedders-for-discovery 3AC x Genesis relationship https://www.theblock.co/post/158167/crypto-lender-genesis-lent-2-36-billion-to-three-arrows-capital 3AC owes creditors $3.5 Billion https://www.theblock.co/post/158169/three-arrows-capital-3ac-creditors-list-3-5-billion-crypto-affidavits 3AC liquidation committee https://www.theblock.co/post/158279/three-arrows-capital-3ac-creditors-committee-five-members 3AC x Blockchain.com relationship https://www.theblock.co/post/158533/3ac-borrowed-and-repaid-more-than-2-billion-from-blockchain-com-before-outstanding-debt Deribit liquidation dispute https://www.coindesk.com/markets/2022/07/19/stake-in-crypto-exchange-deribit-becomes-disputed-asset-in-three-arrows-bankruptcy/ 3AC x StarkWare https://thedefiant.io/zhu-3ac-starkware/ Previous Unchained Coverage Wassielawyer on 3AC, Celsius, and Voyager https://unchainedpodcast.com/three-crypto-bankruptcies-3ac-celsius-and-voyager-what-happens-now-ep-374/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi everyone, welcome to Unchained, you're no hype resource for all things crypto.
0:08.0	I'm your host Laura Shin, author of The Cryptopians.
0:11.8	I started coming crypto seven years ago, and as a senior editor at Forbes was the first
0:16.6	mainstream media reporter to cover cryptocurrency full time.
0:19.9	This is the July 22, 2022 episode of Unchained.
0:24.6	Want to keep up with the biggest news plus market updates in crypto?
0:27.6	Get the Unchained email in your inbox every weekday morning.
0:31.3	Visit UnchainedPodcast.com to subscribe.
0:34.5	One-inch is a top-dex aggregator that finds the best rates across multiple networks.
0:40.3	Why use a single-dex when you can use them all?
0:43.7	Get one-inch on your phone now or swap on one-inch.io.
0:49.7	With the Crypto.com app, you can buy, earn, and spend crypto in one place.
0:54.5	Download and get $25 with the code Laura, link in the description.
0:59.3	Today's guest is Adam Cochran, partner at Cinemaine Ventures.
1:03.4	Welcome Adam.
1:04.4	Hello, thanks for having me.
1:06.7	Just a heads up.
1:07.7	For people watching on the YouTube, Adam just moved and cannot locate his webcam, which
1:12.2	is totally fine by me because it's really most important what he's going to be saying.
1:16.8	So that's just why we are going to have his headshot here.
1:20.6	Okay, so there has been a lot of news regarding three arrows capital in recent weeks and notably
1:26.7	also this week.
	...

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