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

Time Stamp: July 26, 2022 3:30 AM
Source Node: 1594383

Two crypto law experts, Wassielawyer and Adam Levitin, analyze the bankruptcies of 3AC, Celsius, and Voyager.

Show highlights:

  • the difference between Voyager and Celsius “custody” and “earn” deposits
  • why Celsius commingling customer custody and earn deposits could make it harder for creditors to get their money back
  • what similarities and differences the Voyager and Celsius bankruptcies have
  • how Chapter 11 bankruptcy works
  • why Wassie and Adam believe Celsius might have engaged in shady business practices, whereas they believe Voyager was just an irresponsible lender
  • what the latest is on the 3AC bankruptcy and the location of Kyle Davies and Zhu Su
  • what Celsius and Voyager can clawback from 3AC
  • how Alameda fits into the Voyager bankruptcy case
  • whether creditors will receive funds back in crypto or dollars
  • the three types of ways creditors can “claw back” funds in a bankruptcy case
  • why Wassielawyer and Adam believe Celsius’ Chapter 11 plan to restructure around mining is so weird
  • whether the founders from 3AC, Celsius, or Voyager will see jail time

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Adam Levitin

Adam Levitin 3AC/Celsius/Voyager Content

Wassielawyer

Wassielawyer 3AC/Celsius/Voyager Content

Celsius Content

Voyager Content

3AC

Other

  • Kirkland and Ellis are running both bankruptcies
  • What is happening to assets in bankruptcy cases
  • No exposure for Coinbase
  • KeyFi lawsuit
  • 3AC founders break silence

Time Stamp:

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