Unchained

Will FTX Customers Ever Recover Their Assets? Two Insolvency Experts Weigh In - Ep. 420

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Wassielawyer, a lawyer specializing in restructuring and insolvency, and Thomas Braziel, founder and CEO of 507 Capital, talk about the bankruptcy of FTX. 


Show highlights:
  • what the bankruptcy process of FTX is expected to look like
  • why FTX got to the the point of filing for bankruptcy protection
  • why Wassie thinks Alameda is dead
  • why FTX filed for bankruptcy in the US given that it's a Bahamian company
  • how FTX's balance sheet is composed and whether it includes Alameda
  • whether Justin Sun will be dragged into the bankruptcy
  • how FTX's terms of service differ from Celsius’s and Voyager’s
  • how the $600 million hack affects the bankruptcy proceeding
  • whether it's worth it to spend millions of dollars in law firms to go after the hacked money
  • what's the impact of the 192 million FTT tokens that were printed Saturday night
  • what will happen with the fork of Serum and the forked tokens
  • the consequences for all the projects that FTX invested in
  • why Wassie thinks that tokenizing the liabilities could be a good potential solution
  • how the FTX's bankruptcy affects Voyager's proceedings and customers
  • whether FTX’s bankruptcy has put BlockFi in trouble




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    Wassielawyer:
    • Twitter
    • Thread on community buyout
    • Previous Unchained episodes:
    • Why the Messy 3AC, Celsius, and Voyager Bankruptcies Will Drag on for Years
    • Three Crypto Bankruptcies: 3AC, Celsius and Voyager. What Happens Now?


      • Thomas:
      • Twitter
      • 507 Capital
      • Previous Unchained episodes:
      • Will Celsius Survive the Bankruptcy Process?



        • Episode LinksPrevious coverage of Unchained on FTX:
        • Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets
        • The Chopping Block: FTX: The Biggest Collapse in the History of Crypto?
        • Sam Bankman-Fried on How to Prevent the Next Terra and 3AC


          • FTX Collapse:
          • FTX filed for Chapter 11 bankruptcy protection
          • Sam Bankman-Fried built a "backdoor" to his FTX exchange to change financial records and move funds without alerting others.
          • $600 million hack
          • Unchained coverage:
          • The Bahamas Loophole: FTX Users Buy KYC Accounts to Withdraw Crypto
          • Could FTX’s Bankruptcy Trigger a Domino Effect?
          • FTX May File for Bankruptcy After Binance Walks Off the Deal
          • FTX Needs $8B to Meet Investor Withdrawals: Report
          • Tron Founder Justin Sun Says He Is Working With FTX on a Solution
          • US DOJ Joins SEC and CFTC Probe of FTX
          • FTX-Issued Wrapped Solana Tokens Could Add to DeFi Contagion: wBTC Creator
          • Sequoia Capital Writes Off $214M FTX Investment to Zero


            • Contagion:
            • Serum Fork in the Works Amid Fears That FTX-Owned Upgrade Keys Are Compromised
            • BlockFi Halts Withdrawals Amid FTX Crisis
            • Voyager had to reopen the bidding process for its assets


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              UnchainedBy Laura Shin