{"id":24526,"date":"2023-01-08T23:56:09","date_gmt":"2023-01-08T23:56:09","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=24526"},"modified":"2023-01-09T00:37:24","modified_gmt":"2023-01-09T00:37:24","slug":"crypto-collapse-dcgs-problem-is-grayscale-ftx-bahamas-agreement-defi-trading-arrest-silvergate-bank-huobi-binance","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2023\/01\/08\/crypto-collapse-dcgs-problem-is-grayscale-ftx-bahamas-agreement-defi-trading-arrest-silvergate-bank-huobi-binance\/","title":{"rendered":"Crypto collapse: DCG\u2019s problem is Grayscale, FTX Bahamas agreement, DeFi trading arrest, Silvergate Bank, Huobi,\u00a0Binance"},"content":{"rendered":"<p>Our third epic newsletter in a week! Some weeks are like that. This one&#8217;s over at Amy&#8217;s blog. [<a href=\"https:\/\/amycastor.com\/2023\/01\/08\/crypto-collapse-dcgs-problem-is-grayscale-ftx-bahamas-agreement-defi-trading-arrest-silvergate-bank-huobi-binance\/\"><em>Amy Castor<\/em><\/a>]<\/p>\n<p>In this episode:<\/p>\n<ul>\n<li>DCG completely played itself with its $1.1 billion promissory note (internal IOU) to Genesis to cover the 3AC hole, and with Grayscale before that<\/li>\n<li>How Silvergate is likely to get completely done by the regulators<\/li>\n<li>FTX US and FTX Bahamas are making nice now<\/li>\n<li>Huobi is totally not insolvent, it&#8217;s just acting like it. Also, 40% of its &#8220;reserve&#8221; is its own internal supermarket loyalty card points<\/li>\n<li>Binance, yet another prosecutor investigating<\/li>\n<li>Avi Eisenberg, doing what every DeFi trader does &#8212; <em>i.e.<\/em>, stuff that was always illegal &#8212; and getting arrested for it. We think the CFTC and DoJ were looking for an example, and then this idiot tweets out a detailed confession. This is absolutely a message to everyone in DeFi.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2023\/01\/08\/crypto-collapse-dcgs-problem-is-grayscale-ftx-bahamas-agreement-defi-trading-arrest-silvergate-bank-huobi-binance\/captain-its-sunday\/\" rel=\"attachment wp-att-24527\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-24527\" src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2023\/01\/captain-its-sunday.png\" alt=\"\" width=\"510\" height=\"315\" srcset=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2023\/01\/captain-its-sunday.png 680w, https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2023\/01\/captain-its-sunday-300x185.png 300w, https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2023\/01\/captain-its-sunday-348x215.png 348w\" sizes=\"auto, (max-width: 510px) 100vw, 510px\" \/><\/a><\/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>\u201cWhat are you gonna do, arrest me?\u201d<\/p>\n","protected":false},"author":1,"featured_media":24527,"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":[460,3370,568,2031,1798,87,1545],"class_list":["post-24526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","tag-amy-castor","tag-avi-eisenberg","tag-binance","tag-dcg","tag-ftx","tag-huobi","tag-silvergate-bank"],"jetpack_featured_media_url":"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2023\/01\/captain-its-sunday.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/24526","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=24526"}],"version-history":[{"count":4,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/24526\/revisions"}],"predecessor-version":[{"id":24531,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/24526\/revisions\/24531"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media\/24527"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=24526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=24526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=24526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}