Unchained

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

Nov 15, 2022

Wassielawyer, a restructuring and insolvency lawyer, and Thomas Braziel, founder of 507 Capital, dive deep into the chaotic bankruptcy of FTX. They discuss the potential recovery of assets for affected customers and the convoluted nature of FTX's balance sheet. Wassielawyer argues that Alameda is effectively dead and explores the legal intricacies of FTX's international bankruptcy. The conversation also touches on the impact of the recent $600 million hack and creative recovery solutions like tokenizing liabilities.

01:43:17

Creator website

Episode guests

Thomas Braziel

WassieLawyer

AI Chapters

Episode notes

Intro

2min

Navigating FTX Bankruptcy: Chaos and Consequences

19min

Navigating Bankruptcy: Understanding Section 363 Sales and Asset Auctions

2min

FTX Bankruptcy Unveiled

10min

The Chaos of FTX's Bankruptcy and Last-Minute Deals

5min

Exploring the Ethical and Legal Quandaries of KYC Manipulation

2min

Navigating FTX's Asset Recovery Maze

20min

Navigating the Serum Fork

6min

Navigating FTX's Insolvency and Recovery Strategies

23min

10.

Navigating Asset Recovery in Crypto Bankruptcy

14min

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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