sean.eth

Former TradFi cross-cap stack investor now exploring new worlds. I like video games and generative art.

[sean.eth @0xseanspell]

Sharing takeaways from the phenomenal
@artmatrco NFT NYC event. Thoughts from
@zancan @ix_shells @sofiagarcia_io @sebastianss527
and @tylerxhobbs on generative digital art and the future ahead. Well navigated by moderator @postanika. An (edited) thread:

[sean.eth @0xseanspell]

@reganbozman Isn’t the simple answer to all this you don’t get a high multiple unless you have cash flow + growth?

On a long enough time horizon, that’s just the way mkts work

[sean.eth @0xseanspell]

A lot of tweets being deleted...

@Geminiearn @geminiredemption

[sean.eth @0xseanspell]

This aged nicely. Paid-in-kind recoveries to Earn creditors look very very good. I expect this plan is confirmable as soon as this week.

[sean.eth @0xseanspell]

Gemini Earn bagholders should vote “yes.”

This is not legal advice. But I read the plan.

Might do a thread on this

[sean.eth @0xseanspell]

@ramahluwalia @hoyagrizzag Let's get this confirmed first before we pop champagne

[sean.eth @0xseanspell]

@shanepicker @ramahluwalia How?

[sean.eth @0xseanspell]

@ramahluwalia

[sean.eth @0xseanspell]

Directionally agree with Ram, this is a solid read of the tea leaves. Wouldn’t be surprised if this weekend is busy from a news perspective.

[Ram Ahluwalia CFA, Lumida @ramahluwalia]

Quick Take on DCG - Genesis:

.@DCGco and @BarrySilbert timed the drop for Friday after hours.

That's when you drop news you don't want in the upcycle.

The bet is that a weekend development will take front cover.

Also, this dropped after Gemini released their last blog update on the Jan 10 vote.

Barry was reserving the right to see what Gemini would say ahead of the vote in case he needed to tweak the message.

Fundamentally, this is good for creditors.

Creditors still have remedies against alleged fraud in a court of law and that action will still play out.

Barry is signalling he is not going down. He will use the cashcow from Grayscale to fund a litigation defense.

Barry's strategy is delay, delay, delay.

Harvest the cashflow from Grayscale as much as possible.

But, courts have timelines and dates.

Justice runs on a clock.

When the clock rings, I expect it is going to sound like a painful rude awakening for @BarrySilbert.

> This weekend I'll have a take on Gemini Earn vote.

> Feel free to DM me any analysis that you think I should look at.

[sean.eth @0xseanspell]

Nice to see Gemini come out in support of the plan. I generally agree with their view that there is room to improve it but Adversary Actions should work in Earn creditors favor. That being said, this news below is a potential wild card. I’m not sure yet what it means for the case

[Barry Silbert @BarrySilbert]

I’m happy to share that @DCGco completed a full pay down of the money borrowed from Genesis

We have now repaid over $1 bn of debt, including this ~$700 mm, despite the headwinds faced by the industry

I'm excited about the industry's next chapter and DCG’s leadership role in it

[sean.eth @0xseanspell]

@MegazineHD @therealLCWOLF There are many scenarios where recoveries can settle out. And timing is still uncertain. At a high level - every creditor group should be aligned to exit BK as a first step. Just marking asset values to today, we’re way closer to the high end, almost no matter how you slice it

[sean.eth @0xseanspell]

Gemini Earn bagholders should vote “yes.”

This is not legal advice. But I read the plan.

Might do a thread on this

[sean.eth @0xseanspell]

Alright I’m putting thoughts together. Watch this space 👀

If you’ve closely followed the proceedings and want to collaborate, feel free to reach out.

[sean.eth @0xseanspell]

@celslusHeIpline

[sean.eth @0xseanspell]

My read of the @CelsiusNetwork BK Plan suggests there will be limited clawbacks for retail. A thread:

Based on K&E's plan filed to Stretto 3/31, it appears any retail clawbacks will be limited, provided claimants vote in favor of the plan. #CelsiusBankruptcy #celsiusnetwork

[sean.eth @0xseanspell]

@blknoiz06 Put it in the Louvre

[sean.eth @0xseanspell]

@artmatrco @zancan @ix_shells @sofiagarcia_io @sebastianss527 @tylerxhobbs @postanika Y’all killed it tonight 🫡

[sean.eth @0xseanspell]

Sharing takeaways from the phenomenal
@artmatrco NFT NYC event. Thoughts from
@zancan @ix_shells @sofiagarcia_io @sebastianss527
and @tylerxhobbs on generative digital art and the future ahead. Well navigated by moderator @postanika. An (edited) thread:

[sean.eth @0xseanspell]

A huge thank you to @_C00TE and the @artmatrco team for hosting such a great event. Impossible to not be excited about the future of the art world.

[sean.eth @0xseanspell]

@ix_shells doesn’t want people to “forget about performance art” and is excited to continue working on creative ways to bring experiences and digital art together.