DCG’s problem is Grayscale, FTX Bahamas agreement, DeFi trading arrest, Silvergate Bank, Huobi, Binance – Attack of the 50 Foot Blockchain

Our third epic newsletter in a week! Some weeks are like that. This one’s over at Amy’s blog. [Amy Castor]

In this episode:

  • DCG completely played itself with its $1.1 billion promissory note (internal IOU) to Genesis to cover the 3AC hole, and with Grayscale before that
  • How Silvergate is likely to get completely done by the regulators
  • FTX US and FTX Bahamas are making nice now
  • Huobi is totally not insolvent, it’s just acting like it. Also, 40% of its “reserve” is its own internal supermarket loyalty card points
  • Binance, yet another prosecutor investigating
  • Avi Eisenberg, doing what every DeFi trader does — i.e., stuff that was always illegal — and getting arrested for it. We think the CFTC and DoJ were looking for an example, and then this idiot tweets out a detailed confession. This is absolutely a message to everyone in DeFi.


Be the first to comment

Leave a Reply

Your email address will not be published.