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On The Brink with Castle Island

Jun 24, 2022

Matt and Nic return for a fiery episode of deals and news. In this episode: 

  • Is miner selling backed up by the on-chain data? 
  • Is Massachusetts open to pro-crypto legislation? 
  • FTX provides credit support to embattled crypto lenders 
  • Why private market transactions do not constitute bailouts in the pejorative sense
  • Was 3 Arrows just a case of too much leverage and bad trades, or was it fraud? 
  • Does the 3AC situation stray into criminal territory? 
  • There were significant harms stemming from the 3AC scheme
  • Kyle's infamous On The Brink appearance and his special request 
  • Did GBTC bring down 3AC? 
  • Are we entering the PvP era of crypto twitter? 
  • The story behind 3AC's yacht 
  • Solend requisitions user funds 
  • Wartime versus peacetime governance in DeFi
  • South Korea puts a travel ban on Terraform labs employees
  • DYDX is leaving Ethereum and moving to their own chain 
  • The relationship between lender balance sheets and GBTC 
  • Is there a case to be made for winding down GBTC?
  • How to think about the GBTC trade today
  • How the 3AC GBTC trade is like LTCM 
  • How to think about the "macro" 
  • Is the 'crypto hedge fund that also does VC' obsolete? 

Sponsor notes: