The Crypto Reckoning Continues

A lawsuit is filed against Celsius, Silvergate drops 46%, and Huobi and Genesis layoff employees.

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ABOUT

NLW profiles another brutal week in the crypto computation and cleanup following the disasters of 2022.

He examines:

Celsius ex-CEO Alex Mashinsky sued by NYAG
Three Arrows Capital subpoenaed via Twitter
Silvergate laying off 40% of staff
Genesis laying off 30% of staff
And more

Disclaimer: DCG, the owner of Genesis, is the parent company of CoinDesk.

“The Breakdown” is written, produced by, and features Nathaniel Whittemore aka NLW, with today’s editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Image credit: CSA Images/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

HOST

Nathaniel Whittemore

NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.