🧵 I joined Multicoin's monthly LP call a few days ago. I debated whether to write this post because I've been a loyal investor for many years in both their hedge fund and venture fund. This is a summary of the key takeaways from the call and why I will likely be redeeming The Multicoin hedge fund is down 55% this month alone. This assumes all assets held on FTX are written to zero (which frankly won't be far from the actual recovery value now that the extent of SBF's fraud has come to light).

Multicoin Capital letter to LPs regarding FTX (1/4) (2/4)

It's time for an update regarding the #3ACliquidation process. The liquidators presented its first report to the creditors of Three Arrow Capital, Ltd ("3AC") on August 25. This is a summary of the key takeaways from the report plus some personal reflections 🧵

https://twitter.com/DrSoldmanGachs/status/1549236861138538496

Based on the most recent register of directors of 3AC dated 28 June 2022, @zhusu and @KyleLDavies are the current directors. Someone called Mark James Dubois curiously resigned on 24 June 2022. Who is he?

Looks like people are beginning to position themselves ahead of the upcoming $ETH Merge event, expected on Sep 15. Aave borrow rates are at their highest levels in almost 2 years, and utilization rates are at all-time highs. Why are people borrowing so much Eth? Well... 🧵 When the Merge event occurs, there is an expectation that some miners will choose to fork a new chain that retains Ethereum's proof of work consensus mechanism. If this occurs then all $ETH holders will be airdropped an equivalent amount of ETH-PoW tokens on the forked chain

I would like to share my key takeaways from this morning's liquidator meeting. A 2 hour meeting distilled into a short and sweet tweet thread 🧵 The liquidator asked that the contents of the meeting not be shared with the public, but this is of paramount public interest and the parties that have been affected have a responsibility to be open and transparent with their users, shareholders, lenders etc.

🧵(1/5) I am a creditor to #3AC and an investor in @StarryNight_Cap managed by @Vince_Van_Dough. Feel free to follow me to get updates on the liquidation process and for insights along the way. Grab some popcorn and a beverage - the coming months are going to be interesting (2/5) All creditors have been invited to submit claims and to attend a first meeting of creditors to be held on Monday 18 July 2022 at 10am BVI time