{"id":23730,"date":"2022-08-28T20:07:23","date_gmt":"2022-08-28T20:07:23","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=23730"},"modified":"2022-08-29T09:58:31","modified_gmt":"2022-08-29T09:58:31","slug":"crypto-collapse-celsius-sues-keyfi-blockfis-ftx-deal-scaramuccis-skybridge-voyager-suit-3ac-going-to-jail","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2022\/08\/28\/crypto-collapse-celsius-sues-keyfi-blockfis-ftx-deal-scaramuccis-skybridge-voyager-suit-3ac-going-to-jail\/","title":{"rendered":"Crypto collapse: Celsius sues KeyFi, BlockFi\u2019s FTX deal, Scaramucci\u2019s SkyBridge, Voyager suit, 3AC going to jail?"},"content":{"rendered":"<p><i>By <\/i><b><i>Amy Castor<\/i><\/b><i> and <\/i><b><i>David Gerard<\/i><\/b><\/p>\n<ul>\n<li aria-level=\"1\">The Crypto Policy Symposium is on 5 and 6 September 2022. The sessions will all be remote video, so just follow the streams \u2014 tune in for free! [<a href=\"https:\/\/crypto-policy.tech\/\"><i>Crypto Policy Symposium<\/i><\/a>]<\/li>\n<li aria-level=\"1\">If you like our work, it\u2019s funded by our Patreons \u2014 here\u2019s<a href=\"https:\/\/www.patreon.com\/amycastor\"> Amy\u2019s<\/a>, and here\u2019s<a href=\"https:\/\/www.patreon.com\/davidgerard\/overview\"> David\u2019s<\/a>.<\/li>\n<li aria-level=\"1\">Our patrons can also get a couple of<a href=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2021\/05\/bitcoin-it-cant-be-that-stupid.png\"> \u201cBitcoin: It Can\u2019t Be That Stupid<\/a>\u201d stickers just by messaging one of us and asking.<\/li>\n<li aria-level=\"1\">David has<a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2020\/11\/26\/get-signed-copies-of-libra-shrugged-and-attack-of-the-50-foot-blockchain\/\"> signed author copies of his books<\/a> for sale.<\/li>\n<li aria-level=\"1\">Sign up on<a href=\"https:\/\/amycastor.com\/\"> Amy\u2019s blog<\/a> to see every new post she makes as it goes up, and<a href=\"https:\/\/davidgerard.co.uk\/blockchain\/#byemail\"> click here and enter your email address<\/a> for every new post on David\u2019s blog as it goes up.<\/li>\n<\/ul>\n<p>&#8220;Sidenote: referring to this as a house of cards is insulting to cards, which have a consistent value and utility, unlike cryptocurrency.&#8221; \u2014 <a href=\"https:\/\/ez.substack.com\/p\/when-vibes-arent-enough\">Ed Zitron<\/a><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2022\/08\/28\/crypto-collapse-celsius-sues-keyfi-blockfis-ftx-deal-scaramuccis-skybridge-voyager-suit-3ac-going-to-jail\/mashinsky-headset\/\" rel=\"attachment wp-att-23733\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-23733\" src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2022\/08\/mashinsky-headset.jpg\" alt=\"\" width=\"510\" height=\"315\" srcset=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2022\/08\/mashinsky-headset.jpg 680w, https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2022\/08\/mashinsky-headset-300x185.jpg 300w, https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2022\/08\/mashinsky-headset-348x215.jpg 348w\" sizes=\"auto, (max-width: 510px) 100vw, 510px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h3>Celsius strikes back<\/h3>\n<p>Jason Stone of KeyFi, <i>a.k.a.<\/i> DeFi whale <a href=\"https:\/\/twitter.com\/0x_b1\">0x_b1<\/a>, used to manage Celsius\u2019s investments. <a href=\"https:\/\/amycastor.com\/2022\/07\/09\/crypto-collapse-3ac-voyager-celsius-and-other-defi-casualties\/\">Stone sued Celsius in July,<\/a> claiming he hadn\u2019t been paid. Celsius has now filed a countersuit against Stone and KeyFi. The pair were doing business based on a handshake agreement, so it should surprise nobody that they\u2019re now suing each other.<\/p>\n<p>Celsius claims that KeyFi were incompetent investment managers and also thieves. KeyFi allegedly bought NFTs with Celsius\u2019 coins and then sold them for millions of dollars (equivalent). Celsius alleges that KeyFi ran the ether through <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2022\/08\/09\/us-sanctions-tornado-cash-and-crypto-shrieks-in-horror\/\">Tornado Cash.<\/a> Celsius also claims that KeyFi\u2019s July complaint was drafted in September 2021, but KeyFi only filed it when bankruptcy was imminent \u2014 because of confidential negotiations they can&#8217;t share. [<a href=\"https:\/\/amyhcastor.files.wordpress.com\/2022\/08\/cel-v-keyfi.pdf\"><i>Complaint<\/i><\/a><i>, PDF<\/i>]<\/p>\n<p>In a separate lawsuit, Celsius is seeking to claw back $17 million in crypto that\u2019s being &#8220;wrongfully held&#8221; by Prime Trust, one of the biggest custodians in crypto. Celsius had put New York and New Jersey users\u2019 crypto into Prime Trust, who already returned $119 million worth of cryptos to Celsius when it ended its relationship with Celsius in June 2021, citing &#8220;red flags.&#8221; [<a href=\"https:\/\/cases.stretto.com\/public\/x191\/11749\/PLEADINGS\/1174908232280000000049.pdf\"><i>Complaint<\/i><\/a><i>, PDF; <\/i><a href=\"https:\/\/www.theblock.co\/post\/165235\/celsius-sues-prime-trust-for-the-return-of-17-million-am\"><i>The Block<\/i><\/a>]<\/p>\n<p>Under section 345(b) of the Bankruptcy Code, debtors\u2019 cash assets must be deposited in an insured manner. This is easy with cash \u2014 that\u2019s what the FDIC is for. Cryptos are another matter \u2014 it\u2019s not even clear that they\u2019re \u201cmoney,\u201d even if Celsius accounts their value in dollars. So the US Trustee wants Celsius to show that it\u2019s protecting crypto assets suitably before any Final Order on the debtors\u2019 cash management goes through \u2014 whatever form of protection they come up with. [<a href=\"https:\/\/cases.stretto.com\/public\/x191\/11749\/PLEADINGS\/1174908242280000000026.pdf\"><i>limited objection<\/i><\/a><i>, PDF<\/i>]<\/p>\n<h3>BlockFi<\/h3>\n<p>In the recent collapse of the CeFi pyramid, BlockFi looked to be <a href=\"https:\/\/amycastor.com\/2022\/06\/14\/the-latecomers-guide-to-crypto-crashing-a-quick-map-of-where-we-are-and-whats-ahead\/\">as utterly screwed as everyone else.<\/a> Then FTX swooped in, offering to buy out BlockFi for <a href=\"https:\/\/amycastor.com\/2022\/07\/09\/crypto-collapse-3ac-voyager-celsius-and-other-defi-casualties\/\">up to $240 million!<\/a><\/p>\n<p>That\u2019s \u201cup to.\u201d The actual amount could be just $15 million. Well, Zac Prince of BlockFi did tweet in June, \u201cI can 100% confirm that we aren\u2019t being sold for $25M.\u201d He just didn\u2019t say it was even less than that. [<a href=\"https:\/\/twitter.com\/BlockFiZac\/status\/1542582904110317568\"><i>Twitter<\/i><\/a>]<\/p>\n<p>Apparently, the deal is that FTX US will pay $15 million base, plus:<\/p>\n<ul>\n<li aria-level=\"1\">an additional $25 million if BlockFi gets SEC clearance by 31 December 2022 to offer BlockFi Yield;<\/li>\n<li aria-level=\"1\">another $100 million if BlockFi client assets reach $10 billion (currently $4.4 billion) by the time of the FTX purchase;<\/li>\n<li aria-level=\"1\">and 25% of BlockFi\u2019s annual operating income, to a maximum of $100 million.<\/li>\n<\/ul>\n<p>BlockFi filed a confidential S-1 with the SEC for BlockFi Yield in February 2022, so they can\u2019t release any details as yet. [<a href=\"https:\/\/blockfi.com\/confidential-s1-filing\"><i>blog post<\/i><\/a>]<\/p>\n<p>What\u2019s in it for FTX US? A large US retail client base, especially if BlockFi can get that SEC blessing. The FTX purchase option can be exercised no earlier than October 2023. In the meantime, BlockFi still has a <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2022\/06\/22\/crypto-collapse-latest-the-contagion-spreads\/\">$250 million line of credit from FTX.<\/a> [<a href=\"https:\/\/www.coindesk.com\/business\/2022\/08\/22\/ftx-could-buy-blockfi-for-only-15m-or-a-lot-more-if-crypto-lender-hits-big-goals\/\"><i>Coindesk<\/i><\/a>]<\/p>\n<p>Prince has blessed us with his wisdom concerning the crypto collapse, in the form of an article that he sent out as a press release on the Dow Jones newswire.<\/p>\n<p>You\u2019ll be shocked to hear that Prince&#8217;s plans for BlockFi all assumed the crypto bubble would keep inflating for at least the rest of 2022. But looking back, it turns out bubbles pop! Prince places the critical moment at 11 June, shortly before Celsius went down, followed soon after by 3AC \u2014 and not in May, when <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2022\/05\/10\/terras-stablecoin-does-a-2008-crisis-ust-crashes-and-takes-bitcoin-with-it\/\">Terraform\u2019s UST\/luna<\/a> went down. Perhaps he means when BlockFi was suddenly in a ton of trouble.<\/p>\n<p>Prince\u2019s innovative new approach is \u201cdisciplined risk management, financial transparency, and robust regulatory compliance\u201d \u2014 all of which would be heretofore unseen novelties in crypto.<\/p>\n<p>\u201cCrypto was created to be separate from the global economy and central banks,\u201d says the guy running an investment firm that\u2019s absolutely and totally about the US dollars. [<a href=\"https:\/\/www.barrons.com\/articles\/crypto-winter-bubble-popped-future-51661451585\"><i>Barron\u2019s<\/i><\/a>]<\/p>\n<h3>SkyBridge Capital<\/h3>\n<p>SkyBridge Capital, Anthony Scaramucci\u2019s investment firm, suspended redemptions from its &#8220;Legion Strategies&#8221; fund in mid-July. [<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-18\/scaramucci-halts-withdrawals-in-a-fund-after-stock-crypto-swoon\"><i>Bloomberg<\/i><\/a>]<\/p>\n<p>Around 18% of the $230 million fund is crypto-related investments, including a large pile of bitcoins, ether, and Algorand, and an investment in the FTX crypto exchange.<\/p>\n<p>Scaramucci says the redemption suspension is temporary. \u201cThis is the first time we have ever had a suspension,\u201d he told CNBC Squawkbox. The fund is down 30% in the year to date. According to Scaramucci, the suspension was because they didn\u2019t want to &#8220;damage investors that want to stay in the funds,&#8221; if a lot of the investors decide to exit in a less than &#8220;orderly&#8221; fashion. He reassures investors that funds are safe. [<a href=\"https:\/\/www.cnbc.com\/video\/2022\/07\/19\/jim-cramer-gives-his-take-on-mad-moneys-first-day-at-nyse.html\"><i>CNBC, video<\/i><\/a>]<\/p>\n<p>Just like everything else in crypto, it works as long as <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2019\/05\/27\/the-origin-of-number-go-up-in-bitcoin-culture\/\">number goes up<\/a> and not too many people try to cash out. When they do, accounts get frozen, crypto firms file for bankruptcy, and <a href=\"https:\/\/amycastor.com\/2022\/08\/23\/crypto-collapse-3ac-yacht-much-wow-back-on-the-market-celsius-maybe-ponzi-voyager-pays-off-the-boys-hodlnaut\/\">yachts go back on the market.<\/a><\/p>\n<p>But no worries! Scaramucci\u2019s coming out with a new fund, focusing on Web3 and fintech startups! [<a href=\"https:\/\/www.businessinsider.com\/anthony-scaramucci-skybridge-crypto-web3-venture-capital-fund-2022-7?r=US&amp;IR=T\"><i>Business Insider<\/i><\/a>]<\/p>\n<p>Scaramucci is still incredibly optimistic about bitcoin \u2014 but then, he has to be, really. He thinks Fidelity\u2019s offering of bitcoin in 401(k) retirement funds is a great sign. And he admits he was wrong at guessing $100,000 per BTC last year. [<a href=\"https:\/\/www.cnbc.com\/2022\/08\/15\/skybridges-scaramucci-on-two-things-that-will-prop-up-bitcoin-demand.html\"><i>CNBC<\/i><\/a><i>, video<\/i>]<\/p>\n<h3>Voyager Digital<\/h3>\n<p>Voyager\u2019s <a href=\"https:\/\/amycastor.com\/2022\/08\/23\/crypto-collapse-3ac-yacht-much-wow-back-on-the-market-celsius-maybe-ponzi-voyager-pays-off-the-boys-hodlnaut\/\">Key Employee Retention Program payouts<\/a> for 38 employees are going ahead \u2014 though the Unsecured Creditors Committee negotiated the amounts down. The employees are mainly in accounting and IT; none are executives. The payments will be 22.5% of each employee\u2019s annual salary. [<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-24\/voyager-gets-bankruptcy-court-approval-on-key-employee-bonuses\"><i>Bloomberg<\/i><\/a><i>; <\/i><a href=\"https:\/\/twitter.com\/VoyagerUCC\/status\/1562138198125445120\"><i>Twitter<\/i><\/a>]<\/p>\n<p>Voyager has asked the court to pause or throw out the <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2022\/08\/11\/crypto-collapse-coinbases-billion-dollar-bloodbath-hodlnaut-goes-down-celsius-voyager-3ac\/\">lawsuit against investor Mark Cuban and CEO Steven Ehrlich<\/a> that claimed Voyager had done a Ponzi. Their argument is that the bankruptcy protections against lawsuits should extend to key figures in the company. With the lawsuit against Erlich and Cuban tied together, the company wants the court to throw out the case. The response is only pages 1\u201312; the other 199 pages are exhibits. [<a href=\"https:\/\/cases.stretto.com\/public\/x193\/11753\/PLEADINGS\/1175308232280000000002.pdf\"><i>adversary complaint<\/i><\/a><i>, PDF<\/i>]<\/p>\n<p>As well as FTX, Binance and Coinbase are also hoping to buy whatever\u2019s left of Voyager, and apparently there are some other smaller players. Voyager\u2019s own VGX token went up on the news, because everything is stupid. [<a href=\"https:\/\/www.coindesk.com\/business\/2022\/08\/25\/binance-ftx-among-crypto-players-in-hunt-to-buy-voyager-digital-assets-as-coinbase-backs-out-sources\/\"><i>CoinDesk<\/i><\/a>]<\/p>\n<h3>Three Arrows Capital contemplate prison<\/h3>\n<p>Teneo, Three Arrows Capital (3AC)&#8217;s liquidators, got the British Virgin Islands liquidation of 3AC recognised in Singapore. This gives Teneo greater scope to investigate locally, and request access to financial records that 3AC kept in Singapore. Teneo wants to work out just what assets 3AC held locally.<\/p>\n<p>Teneo is being represented in Singapore by WongPartnership LLP.<\/p>\n<p>Teneo has secured over $40 million in 3AC assets! Creditor claims against 3AC are currently around $2.8 billion. We think the money is gone, and it\u2019s not coming back. [<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-24\/three-arrows-liquidators-get-singapore-nod-to-probe-crypto-fund\"><i>Bloomberg<\/i><\/a>]<\/p>\n<p>3AC co-founder Zhu Su filed an affidavit in Bangkok, Thailand, on 19 August, accusing Teneo of misleading the High Court of Singapore as to 3AC\u2019s corporate structure. Zhu says that 3AC may therefore be unable to comply with Teneo\u2019s requests for information, risking contempt of court \u2014 with consequences up to <i>imprisonment<\/i> for 3AC officers! Threaten us with a good time, will ya. [<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-26\/3ac-s-zhu-says-worried-about-imprisonment-in-liquidator-fight\"><i>Bloomberg<\/i><\/a>]<\/p>\n<h3>Exchanges go down<\/h3>\n<p>Cryptocurrency \u201cdigital banking platform\u201d Nuri GmbH \u2014 formerly known as Bitwala \u2014 filed for insolvency on 9 August. The company blames COVID-19, Russia invading Ukraine, capital markets cooling down, and oh yeah, the UST\/Luna and Celsius collapses. Nuri reassures customers that funds are safe. Nuri laid off 20% of its employees two months ago. [<a href=\"https:\/\/www.reuters.com\/technology\/crypto-exchange-nuri-files-insolvency-germany-2022-08-09\/\"><i>Reuters<\/i><\/a><i>; <\/i><a href=\"https:\/\/nuri.com\/blog\/nuri-filed-for-insolvency\/\"><i>Nuri blog post<\/i><\/a>]<\/p>\n<p>India&#8217;s Enforcement Directorate has frozen 3.7 billion rupees (around $46 million) held by bankrupt crypto lender\/exchange Vauld. The ED was investigating Yellow Tune Technologies in relation to the Chinese loan sharking scandal that hit WazirX \u2014 which <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2022\/08\/16\/who-owns-wazirx-and-the-loan-app-scam-that-brought-them-to-this\/\">may or may not be the Indian branch of Binance<\/a> \u2014 a few weeks ago. The ED says that Yellow Tune Technologies helped the companies launder their takings in crypto, with assistance from Flipvolt, a local entity of Vauld. [<a href=\"https:\/\/www.theblock.co\/post\/163329\/indian-authorities-freeze-46-million-worth-of-vaulds-assets\"><i>The Block<\/i><\/a>]<\/p>\n<p>Binance continues to operate in the Netherlands with no license, despite repeated warnings. Binance benefited from a \u201ccompetitive advantage\u201d from not paying fees to the regulator, De Nederlandsche Bank, and skipping out on compliance costs. It had started violating the rules in May 2020. Binance was fined 3,325,000 EUR by DNB in July. The original fine in April was 2 million EUR. Binance has now started the registration process. [<a href=\"https:\/\/www.coindesk.com\/business\/2022\/07\/18\/binance-fined-over-33m-by-dutch-central-bank\/\"><i>Coindesk<\/i><\/a><i>; <\/i><a href=\"https:\/\/www.dnb.nl\/nieuws-voor-de-sector\/2022\/boete-voor-binance-holdings-ltd-vanwege-het-zonder-de-wettelijk-vereiste-registratie-aanbieden-van-cryptodiensten\/\"><i>DNB<\/i><\/a><i>, PDF, in Dutch; <\/i><a href=\"https:\/\/www.dnb.nl\/media\/0jxfaxck\/besluit-tot-het-opleggen-van-een-bestuurlijke-boete-aan-binance-gelakte-versie-pdf.pdf\"><i>DNB notice from April<\/i><\/a><i>, in Dutch; FT, <\/i><a href=\"https:\/\/archive.ph\/fTzDg\"><i>archive<\/i><\/a>]<\/p>\n<p>German \u201csavings fintech\u201d Rubarb is broke. The company was run by Fabian and Jakob Scholz, nephews of Chancellor Olaf Scholz. Rubarb got into DeFi big time in March 2022, and had 40 million EUR in Celsius. Fabian Scholz assures his customers that funds are safe. [<a href=\"https:\/\/www.businessinsider.de\/gruenderszene\/fintech\/rubarb-das-fintech-der-scholz-neffen-ist-insolvent-a\/\"><i>Business Insider<\/i><\/a><i>, in German; <\/i><a href=\"https:\/\/financefwd.com\/de\/kudona-krise\/\"><i>FinanceFWD<\/i><\/a><i>, in German<\/i>]<\/p>\n<p>Hotbit, a crypto exchange registered in Hong Kong and Estonia, suspended operations on 10 August \u2014 and it <i>wasn\u2019t<\/i> because they were playing the DeFi markets. A Hotbit management employee, who left in April 2022, joined a questionable <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2022\/06\/09\/initial-game-offerings-a-failed-initial-grifting-opportunity\/\">GameFi<\/a> project in 2021, and commingled funds from the project with Hotbit funds, so law enforcement assumed the exchange was in on the scam. The exchange can&#8217;t function while all the money is frozen in the investigation \u2014 but they promise that funds are safe. [<a href=\"https:\/\/hotbit.zendesk.com\/hc\/en-us\/articles\/8074249353495\"><i>Hotbit<\/i><\/a><i>, <\/i><a href=\"https:\/\/archive.ph\/H3bQT\"><i>archive<\/i><\/a><i>; <\/i><a href=\"https:\/\/hotbit.zendesk.com\/hc\/en-us\/articles\/8075838003863-Announcement-on-the-Treatment-of-User-s-Assets-During-Hotbit-Website-Maintenance-Begin-From-August-10th-2022\"><i>Hotbit<\/i><\/a><i>, <\/i><a href=\"https:\/\/archive.ph\/rYWSz\"><i>archive<\/i><\/a><i>; <\/i><a href=\"https:\/\/hotbit.zendesk.com\/hc\/en-us\/articles\/8477769193239-The-Latest-Announcement-of-Hotbit-Platform-Part-1\"><i>Hotbit<\/i><\/a><i>, <\/i><a href=\"https:\/\/archive.ph\/wTwRG\"><i>archive<\/i><\/a>]<\/p>\n<h3>So what happens next?<\/h3>\n<p>Is all of <i>this<\/i> (we wave our hands around at everything catching fire) &#8230; the <i>end<\/i> for crypto?<\/p>\n<p>We think it&#8217;s obvious that bitcoins and crypto will be around for decades. All you need is the software, the blockchain data, and two or more enthusiasts.<\/p>\n<p>But nobody cares about the bare-bones technical definition \u2014 they\u2019re in it for the money, and the complicated system of people and organisations that might get them the money.<\/p>\n<p>Will crypto continue to be a financial instrument that you can make and lose fortunes on? That\u2019s a question of regulation.<\/p>\n<p>The original use case for bitcoin was money that could evade government scrutiny. A decade later, that\u2019s still the use case for crypto.<\/p>\n<p>Sure, governments can be annoying and stupid. But we don\u2019t think dodging regulations is really sustainable on any long-term scale.<\/p>\n<p>So we predict increasing regulation of crypto insofar as it\u2019s a financial instrument. When you touch real money, you&#8217;re expected to play by the rules of real money. That shouldn&#8217;t surprise anyone.<\/p>\n<p>Genuine hyperinflated Zimbabwe hundred-trillion dollar notes go for over $100 in good condition. We say \u201cgenuine\u201d because they\u2019re popular enough that you have to watch out for fakes. So there\u2019s hope for bitcoin!<\/p>\n<p>&nbsp;<\/p>\n<br><br><div align=\"center\"><p><a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\"><img src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2021\/10\/become_a_patron_button.svg\" alt=\"Become a Patron!\" title=\"Become a Patron!\" width=217 height=51><\/a><br><p style=\"align:center;\" class=\"patreon-badge\"><i>Your subscriptions keep this site going. <a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\">Sign up today!<\/a><\/i><\/p><\/div>","protected":false},"excerpt":{"rendered":"<p>&#8220;Referring to this as a house of cards is insulting to cards, which have a consistent value and utility, unlike cryptocurrency.&#8221;<\/p>\n","protected":false},"author":1,"featured_media":23733,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[3194,3016,460,3197,568,3200,1795,3094,916,3204,3202,1798,1238,2241,287,3193,3195,6,3148,417,3199,985,3203,3196,3146,3050,3061,3072,2697,3198,3201,3053],"class_list":["post-23730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","tag-0x_bf","tag-3ac","tag-amy-castor","tag-anthony-scaramucci","tag-binance","tag-bitwala","tag-blockfi","tag-cefi","tag-celsius","tag-fabian-scholz","tag-flipvolt","tag-ftx","tag-germany","tag-hotbit","tag-india","tag-jason-stone","tag-keyfi","tag-links","tag-mark-cuban","tag-netherlands","tag-nuri","tag-prime-trust","tag-rubarb","tag-skybridge-capital","tag-steven-ehrlich","tag-su-zhu","tag-teneo","tag-vauld","tag-voyager-digital","tag-wongpartnership","tag-yellow-tune","tag-zac-prince"],"jetpack_featured_media_url":"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2022\/08\/mashinsky-headset.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/23730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/comments?post=23730"}],"version-history":[{"count":15,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/23730\/revisions"}],"predecessor-version":[{"id":23747,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/23730\/revisions\/23747"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media\/23733"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=23730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=23730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=23730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}