Deribit seeking Dubai license to maintain crypto options dominance
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Kyle Davies
@KyleLDavies
Entrepreneur
Dubai, United Arab EmiratesJoined January 2022
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UPDATE: Lots of ‘unconfirmed’ rumors that has eliminated DCG’s ability to TWAP trade and potentially trade altogether.
**several ‘unconfirmed’ sources - “legal risks” “DOJ disassociation” “API’s shut down”
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UAE Minister: Crypto will play a major role in UAE trade
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APESZN?
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🇦🇪 UAE's Minister of State for Foreign Trade: "Crypto Will Play A 'Major Role' for UAE Trade"
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1/ Earn Update: This evening, Genesis Global Capital, LLC (Genesis) filed for bankruptcy under Chapter 11. This is a crucial step towards us being able to recover your assets.
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*CRYPTO FIRM GENESIS FILES FOR CHAPTER 11 BANKRUPTCY IN SDNY
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The 2018 Meeting that Kicked Off a Lending Relationship between Alameda and Genesis
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Bull market CT enjoyed debating log vs linear wealth.
The real goal should be exponential vs linear thinking.
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UPDATE: Grayscale Trust will remain as is and continue to produce annual revenue that exceeds $300M+
**source at DCG - “you’ll have to pry $GBTC and those fees out of his hands with a kryptonite crowbar”
**notice the Grayscale PR push for an ETF smokescreen Th/Fri.
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🙏
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This is so savage and true. Written in 1930.
"The day you sell is reasonably certain to mark the end of the decline, because you are not the only one who was finally scared into selling. You, being an average man, were merely representative."
- Fred Kelly
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I like it
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UPDATE: DCG/Genesis liabilities balloon to beyond $3.1B.
**facing decisions to liquidate portfolio assets (which won’t cover even 10% of the above sink hole).
**reminder - said two months ago there was ZERO interest in their capital raise.
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Wow. Game over indeed.
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The somewhat ridiculous thing about all this is that the 3AC estate may actually have a huge claim against 'Luna'.
I have actually theorized this for a while and wondered if the 3AC liquidators would be the first ones to put together a coherent lawsuit against Do Kwon/TFL etc.
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3AC’s Kyle Davies claims creditors ‘frustrated’ with bankruptcy process
theblock.co/post/200995/3a
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1/ Great leadership from UK City Minister who yesterday told MPs that he still wants the UK to become a crypto hub despite FTX collapse.
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There is currently a dispute between Genesis and other large creditors. Genesis's claim collateral marks could be $500m too high. Genesis’s claim status and role on creditor committee could be reconsidered.
~fin
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Albright vs Luna consortium case was withdrawn by the plaintiffs. This may set a precedence for future Luna related lawsuits.
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Creditors may decide to establish an ad hoc creditor committee to meet regularly in order to progress the interests of the estate.
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We believe the best way forward is to reduce the ongoing legal costs, pursue claims on a contingency basis against Luna consortium/FTX/Genesis, and organize better ways to deal with asset sales/distributions.
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We and other creditors of 3AC are frustrated with the current bankruptcy process. Ongoing costs are high, assets are not being thoughtfully handled, intercreditor disputes are delaying the process, and the estate value is not being maximized.
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Today we held an ad hoc 3AC creditor meeting. All creditors are open to join and this will be a regular meeting.
Here is an overview of the points discussed:
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A single shared breath at the beginning of a meeting is simple but powerful. Alignment of energy. Just one breath, in and out.
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Who is Barry
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NEW for @Forbes: Who Is Barry Silbert, The Former Crypto Billionaire That Cameron Winklevoss Is Accusing Of Accounting Fraud?forbes.com/sites/johnhyat
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think 2023 will be more about revanche than echoes
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GEMINI'S WINKLEVOSS DEMANDS REMOVAL OF DCG CEO BARRY SILBERT
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Crypto is rightist: self-sovereignty, censorship-resistance, freedom, money.
Web3 is leftist: democratizing the web, community ownership, empowering creators.
They are the yin and yang of what makes crypto crypto. It's just when crypto went mainstream, the web3 side showed up.
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Crypto is a 100x better term than web3, always has been
Web3 has caused much damage and misplaced expectations
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*Green candle may necessitate posting soyjak howling at +0.12% dot jpg
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2023 is about old school entrepreneurship. Understand a problem, invent a solution, win win. Not building for a far off future. No speculative TAM. Tech now that is useful.
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Wow wow wow wow wow wow. We stacked 4% of the shares today. Can't believe it myself. Knocking on 20%.
WE ARE GOING TO WIN. Full stop.
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Note that I am NOT telling people WHAT to read and HOW to read.
Nothing prescriptive; I initially expressed a *personal* preference, why I refused 10x to be on Fridman's podcast, how his persona violates what I believe in, authenticity, directness, & depth.
Gabish?
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Indian curry and deep frying were introduced to Japan by the British in the late 1800’s. Techniques adapted by local chefs to a spicy pork cutlet thickened with flour. カツカレー.
Globalization with local expertise and tastes.
Less exporting of culture, more sharing of ideas.
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Double reverse thesis
SBF cooperates in the DCG/Genesis DOJ investigation in the hopes of knocking a decade off his sentence. Classic polycule move.
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Once the kimono is open, there are things than cannot be unseen. The DOJ has a 93% conviction rate.
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UPDATE: DOJ and SEC have opened active investigations probing DCG over inter company loans and money transfers.
**confirmed via Bloomberg late this evening
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