Transcript Ep.377: Why the Messy 3AC, Celsius, and Voyager Bankruptcies Will Drag on for Years

Laura Shin:

Hi, all. Just a quick note before we begin. This episode is an interview with a bankruptcy expert Adam Levitin and an insolvency expert Wassielawyer. It’s an incredible conversation on how the bankruptcies of Three Arrows Capital, Celsius and Voyager will go down. I just wanted to note that we recorded before Friday afternoon, which is when FTX offered to allow Voyager customers who opt into the program access to some of their funds early as long as they create FTX accounts.

So, in case you’re wondering why we don’t discuss this proposal that’s why. However, in discussing it post show, Wassielawyer said it was an incredibly shrewd move and believes that it’s a signal that Sam Bankman-Fried thinks the crypto markets have bottomed. Otherwise, enjoy this incredibly illuminating discussion of how the 3AC, Celsius and Voyager bankruptcies will go down.

Hi, everyone. Welcome to Unchained your no-hype resource for all things crypto. I’m your host Laura Shin author of the Cryptopians. I started covering crypto seven years ago and as a senior editor at Forbes was the first mainstream media reporter to cover crypto currency full time. This is the July 26, 2022 episode of Unchained.

Every other week Unchained hosts The Chopping Block where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner and Tarun Chitra chop it up about the latest news in the digital asset industry. The next episode is for you night owls streaming Wednesday July 27 at 9:30 pm Eastern time on YouTube.com/c/unchained podcast. Be sure to tune in then.

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Today’s topic is the bankruptcies of Celsius, Voyager and Three Arrows Capital. Here to discuss our Wassielawyer, anti anime penguin in a suit, I mean a lawyer specializing in restructuring and insolvency and Adam Levitin, Georgetown law professor and principal at Gordian Crypto Advisors. Welcome Wassielawyer and Adam.

Adam Levitin

Hello. It’s good to be here today.

Wassielawyer:

Hi everyone. It’s good to be here today as not Darth Vader.