In this episode of Empire, Thomas Braziel joins us to discuss the highly lucrative yet misunderstood world of distressed crypto investing. We start with the basics of how distressed asset investing works; then, we explore the Mt. Gox bankruptcy, how to value bankruptcy claims, what's next for FTX, the tokenization of bankruptcy claims and more!
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Timestamps:
(00:00) Introduction
(01:57) What Is Distressed Asset Investing?
(04:49) Mt. Gox Case Explained
(19:26) Circle Ad
(21:08) Finding Investment Opportunities
(27:09) How to Value a Bankruptcy Claim
(30:01) Buying FTX Claims for 3 Cents on the Dollar
(31:59) FTX Bankruptcy Jurisdiction Questions
(35:57) Tokenization of Bankruptcy Claims
(38:32) Will They Separate
FTX.US and FTX International Assets?
(39:43) What's Next for BlockFi and Genesis?
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Circle’s USDC has quickly become one of the most trusted and widely used stablecoins because of its composability, stability and reserve transparency. As a seamless, trusted digital currency, USDC is a zero-to-one opportunity for the global financial system. Check out their Transparency Hub at
http://empirepodcast.link/circle that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is.
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Resources
507 Capital
https://507capital.com/
Memos from Howard Marks
https://www.oaktreecapital.com/insights
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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.