Adam Cochran on Why Crypto Prices Will Be Down Bad for the Next Six Months

Adam Cochran, partner at Cinneamhain Ventures, talks about the collapses suffered during this year, their impacts on big traditional finance players, and what’s coming in the crypto markets in the near future. 

Show highlights:

• whether Sam Bankman-Fried lied during his interview at the Deal Book Summit
• why SBF kept the number of FTX’s engineers at such a low number
• why Adam is optimistic about Genesis and DCG
• what options Genesis has to raise liquidity
• the significance of a potential meltdown of DCG in the crypto industry
• why Adam is worried about Grayscale Bitcoin Trust (GBTC)
• what lessons can be learned from this crypto winter
• Adam’s prognosis for crypto lending and for the crypto markets in general
• the impact of the bankruptcy of BlockFi and all the other centralized lenders

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Adam:

• Twitter
• Thread on community buyout
• Previous Unchained episodes:
  • Why 3AC’s Collapse Could Spell the Start of a Crypto Credit Crunch

Episode Links

BlockFi: 

• Unchained: Crypto Lender BlockFi Files for Bankruptcy as FTX’s Contagion Effects Continue
• Decrypt: FTX, Alameda Owe BlockFi More Than $1 Billion: Court Hearing

Genesis:

• Bloomberg: Genesis Creditors Seek Options to Keep Crypto Brokerage Out of Bankruptcy
• Semafor: Online news site CoinDesk attracts suitors amid crypto crash
• Unchained:
  • Genesis Warns of Bankruptcy If Funding Plans Fail: Report
  • On-chain Analysts ID 432 GBTC Addresses After Grayscale Says No to Proof-of-Reserves
• WSJ: Crypto Lender Genesis Asks Binance and Apollo for Cash
• Decrypt: Digital Currency Group Says No Imminent Threat Despite Owing Genesis $575M
• The Block: DCG CEO Barry Silbert updates shareholders, says company will emerge ‘stronger’
• Previous coverage of Unchained on Genesis:
  • Why Genesis Could Very Well Be Insolvent, Not Just Illiquid
  • ‘The Last Big Whale’: Why the Crypto Contagion of 2022 Eventually Hit Genesis

FTX:

• Unchained: FTX Bankruptcy Overseer Says Company’s Collapse Is Worst He’s Ever Seen

• Previous coverage of Unchained on FTX:
  • Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion
  • Is the Collapse of Crypto Lending Over, or Is It Just Starting?
  • Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX?
  • The Chopping Block: Why Lenders Didn’t Liquidate Alameda When It Was Underwater 
  • Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets
  • The Chopping Block: FTX: The Biggest Collapse in the History of Crypto?
  • Sam Bankman-Fried on How to Prevent the Next Terra and 3AC