The Chopping Block: Will Genesis Creditors Be Made Whole?

Welcome to “The Chopping Block!” – where crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week, they covered:

• why the markets were up so much recently
• how and why Genesis entered into bankruptcy
• why the hole in DCG’s financials are potentially much bigger than previously reported
• the differences between the bankruptcies of FTX and Genesis
• whether 3AC founders Su Zhu and Kyle Davies will find success with their new exchange
• what will happen to GTBC now that a huge portion has already been liquidated
• whether Tarun is predicting “the start of a new supercycle”
• the large percentage of vested SOL held by the FTX estate
• how SBF is still trying to win the public

Hosts

• Haseeb Qureshi, managing partner at Dragonfly Capital
• Tarun Chitra, managing partner at Robot Ventures
• Robert Leshner, founder of Compound
• Tom Schmidt, general partner at Dragonfly Capital

Links

Genesis: 

• • Bloomberg: FTX Bankruptcy Judge Backs Company Law Firm, Rejects Last Minute ‘Rumors’

• CoinDesk: 

• Crypto Lender Genesis Global Capital Is FTX’s Largest Unsecured Creditor

• Crypto Trading Firm Cumberland DRW Disputes Genesis Exposure

• CNBC: 

• Crypto firms Genesis and Gemini charged by SEC with selling unregistered securities

• Crypto publication CoinDesk hires Lazard to explore sale as crisis deepens at parent company DCG

• Unchained:

• • Is Genesis’s Prepackaged Bankruptcy The Ultimate Sacrifice? 
  • Gemini Ends Its Earn Program and Calls for Barry Silbert’s Ouster
  • DCG Under Investigation by DOJ and SEC: Report
  • Genesis CEO Says Firm Needs More Time to Find a Solution

FTX:

• Unchained:
  • SBF Says Excel Spreadsheet Proves FTX US Is Solvent

• WSJ: New FTX Chief Says Crypto Exchange Could Restart
• The Block: FTX debtors identify $5.5 billion of liquid assets in ’Herculean effort’

3AC/GTX: 

• Unchained: 3AC Founders Are Raising $25M for ‘GTX’