'The Last Big Whale': Why the Crypto Contagion of 2022 Eventually Hit Genesis

Michael Jordan, founder at DBA and former co-head of investments at Galaxy Digital, and Alex Pack, managing partner at Hack VC, talk about the potential insolvency of Genesis and DCG, the cycle of credit expansion, and the importance of DeFi to prevent these situations.  Show highlights: what will happen with Genesis and its parent company DCG where the insolvency of Genesis might have come from how the expansion of crypto lending in 2021 is impacting the markets and the role the Fed played in this expansion how the Terra collapse kickstarted a ton of contagion effects in crypto companies Alex's story of why he did not invest in Alameda in 2018 whether it is possible to prevent the "FTXs of the future" the importance of assessing the quality of collateral assets the story of when SBF called DeFi a "Ponzi black box" the mystery of where FTX Ventures got the $2 billion it planned to invest   Take Unchained's 2022 survey!  Unchained is doing its annual survey. Tell us how you think we’re doing and how we could improve, whether it be on the podcast, in the newsletter, or in our premium offering. Looking forward to hearing your thoughts! Thank you to our sponsors!Crypto.comChainalysisMinima Michael: Twitter Previous Unchained episodes: Is the Collapse of Crypto Lending Over, or Is It Just Starting? Alex:Twitter  Episode LinksPrevious coverage of Unchained on Genesis and FTX:  Why Genesis Could Very Well Be Insolvent, Not Just Illiquid Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion Is the Collapse of Crypto Lending Over, or Is It Just Starting? Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX? The Chopping Block: Why Lenders Didn’t Liquidate Alameda When It Was Underwater  Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? Sam Bankman-Fried on How to Prevent the Next Terra and 3AC  Genesis: Unchained:  Genesis Warns of Bankruptcy If Funding Plans Fail: Report On-chain Analysts ID 432 GBT