James Block, author at Dirty Bubble Media, joins Jack to explain the knock-on effects of the demise of the crypto exchange FTX.
James is an amateur crypto researcher who saw in FTX and Alameda Research what many crypto professionals missed: hidden leverage, inflated assets, and in some cases, outright fraud.
He now shares his view on potential contagion to Gemini, Genesis, Digital Currency Group (DCG), BlockFi, and other firms in the crypto ecosystem.
James’ writings at Dirty Bubble Media can be found here: https://dirtybubblemedia.substack.com/
James’ piece on Alameda Research: https://dirtybubblemedia.substack.com/p/is-alameda-research-insolvent
James’ piece on Digital Currency Group (DCG): https://dirtybubblemedia.substack.com/p/digital-currency-grift
__
Follow James on Twitter https://twitter.com/MikeBurgersburg
Follow Jack Farley on Twitter https://rb.gy/uesguv
Follow Forward Guidance on Twitter https://rb.gy/cy0dki
Follow Blockworks on Twitter https://rb.gy/igyzsj
___
This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://link.curve.com/forward_guidance, you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply.
__
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter:
https://rb.gy/5weeyw
Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter: https://rb.gy/feusos
__
Timestamps:
(00:00) Intro
(00:45) "Is Alameda Research Insolvent?"
(03:02) Red Flags With Alameda & Celsius
(12:35) Binance
(15:01) Crypto Contagion
(19:13) Curve Ad
(20:16) Digital Currency Group (DCG) and Genesis
(35:16) Where Did Crypto Yield Come From?
(40:00) Was The $8 Billion Ever At FTX To Begin With?
(45:11) What's The Next Shoe To Drop?
__
Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
