Why Kyle Davies Isn't Sorry, BlackRock's New Fund, and More!
This Week on Unchained: Don't miss the interviews with Kyle Davies, the co-founder, of crypto hedge fund Three Arrows Capital and Carlos Domingo, founder and CEO of Securitize.
On Wednesday, BlackRock, the world’s leading asset management firm, announced the launch of a tokenized investment fund, the BlackRock USD Institutional Digital Liquidity (BUIDL) Fund, developed in collaboration with Securitize.
Carlos Domingo, founder and CEO of Securitize, discusses the launch of the fund, which is native to the public Ethereum blockchain and aims to bring an institutional-grade cash management product to crypto institutions, offering faster token issuance, redemption, and transferability.
He also talks about how Blackrock has embraced crypto, how the launch of the fund was “front run” by crypto Twitter, and how Blackrock will deal with issues such as the fund being dusted with ETH tainted by sanctioned Tornado Cash ETH.
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
Few crypto figures have been as vilified as Kyle Davies, the co-founder, along with Su Zhu, of crypto hedge fund Three Arrows Capital, which imploded in mid-2022, losing $3 billion and bringing many pillars of the crypto industry down with it. Davies and Zhu have been accused of, among other things, lying about 3AC’s assets as the firm was imploding, trying to borrow money when the firm was insolvent, and seeking funding from the Mafia, all of which Davies denies.
But he remains unapologetic about 3AC’s demise, saying most, if not all, companies eventually go bankrupt, and that 3AC had a “pretty spectacular” ten-year run. He joined Unchained to explain why he and Su Zhu were ordered to prison in Singapore for non-compliance with the liquidation proceedings, Zhu’s “six weeks meditating” (in prison), where he’s living now, why he and Zhu went to Bali after the bankruptcy, his $25,000-a-month fee for consulting for crypto bankruptcy exchange OPNX, his and Zhu’s current work advising crypto derivatives platform OX.FUN, and what he wishes he would have done differently in terms of 3AC’s wind down.
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
The Chopping Block: Memecoin Presales, MakerDAO’s Endgame, and BlackRock’s Blockchain Bet!
In this week’s episode, the squad dives into the riveting dynamics of memecoins and their undeniable sway over market sentiments, alongside a detailed exploration of BlackRock’s groundbreaking leap into blockchain with its on-chain fund initiative. Is Solana redefining its role as the new haven for meme coin ventures, signaling a shift in blockchain platform dominance? And with Ethereum’s recent 4844 and Dencun upgrades, can it hold its ground as the DeFi ecosystem’s backbone amidst escalating competition? We delve into MakerDAO’s ambitious “Endgame” strategy, contemplating its potential to reshape governance within the DeFi sector. The conversation doesn’t stop there; we untangle the complex web of crypto conspiracies and debate the evolving definition of “fair launch” in the decentralized space. This episode is packed with analysis and insights as we navigate the speculative excitement of memecoins, the strategic moves of blockchain giants, and the policies shaping the future of decentralized finance.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
In Case You Missed It 👀
Here are some of the most important news of this week:
Ethereum and Solana Supporters Lock Horns on Social Media Over Scalability and Memecoins
Backers of each layer 1 blockchain criticized each other this past week, as competition between the networks grows.
EtherFi Investor Dodges Vesting Schedule and Offloads Freshly Airdropped ETHFI Tokens to Binance
Venture firm Arrington Capital’s token distributions were spread amongst several wallets in amounts just below the minimum threshold for locking the ETHFI tokens into vesting schedules.
Solana’s Memecoin Boom Has Many Recalling Ethereum’s 2017 ICO Mania
Some crypto users have observed parallels between Solana’s current meme frenzy and Ethereum’s ICO mania in 2017.
EtherFi Investor Dodges Vesting Schedule and Offloads Freshly Airdropped ETHFI Tokens to Binance
Venture firm Arrington Capital’s token distributions were spread amongst several wallets in amounts just below the minimum threshold for locking the ETHFI tokens into vesting schedules.
SBF’s Lawyers Respond to ‘Disturbing’ 50-Year Sentence That Cast Him As ‘Depraved Super-Villain’
“The truth is, there were never losses. The money has always been available,” said Sam Bankman-Fried’s lawyers in a letter opposing the government’s proposed 50-year prison term for the former FTX CEO.
SEC Sanctioned for ‘Abuse of Power’ in Debt Box Lawsuit
A U.S. District Court has sanctioned the U.S. Securities and Exchange Commission (SEC) for misleading the court in relation to its lawsuit against crypto firm Debt Box, with the judge concluding that the securities regulator’s actions constituted a “gross abuse of power entrusted to it by Congress.”
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