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Crypto Thesis for 2023 | Ryan Selkis
Bankless
Is DCG Bankruptcy Going to Overhang the Crypto Industry?
Dcg was itself a borrower from genesis so they are one step removed from owing all of these creditors. It's not as if a resolution with creditors is a panacea for dcg because it's still going to create a new you know massive liability or preferred instrument at the holding company level that could hypothetically wipe out a good chunk of equity value. i don't think about it as as economically damaging in terms of like there's more contagion risk on the market but now we're at part two of this cycle where the black eyes are going to be potentially permanent and everybody should be rooting for some kind of resolution here.
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