BlockTower Capital Advisors LP

His insights on credit spreads and the possibility of European Central Bank money printing align with the broader macro discussions we've seen across today's episodes.

Shifting gears to security and ecosystem health, The Canadian Bitcoiner's podcast covers serious allegations from Ari Paul about Coinbase losing twenty-five million dollars of Blocktower's funds and hiding over one billion dollars in hack losses, which Coinbase denies.

This conversation raises critical questions about custody risks and transparency in major exchanges.

Coupled with recent Blink wallet breaches and Bitget hacks discussed earlier this week, it underscores the ongoing security challenges in the Bitcoin infrastructure layer and the importance of user sovereignty The episode also highlights experiments with Bitcoin eCash, such as Cashew's test through Apple's Find My network, showing innovation in privacy and usability despite security setbacks.

To just sort of tease that out on Twitter.

Typically, Ari's counsel or BlockTower's counsel.

BlockTower? I don't know if it's still that, but that was his firm at one day.

um you know i'm sure their their their counsel is unhappy about saying that on twitter i know judges don't like when that happens happens either um but you know hopefully we get uh you know some insights into what went on with coinbase We had Hester Purse at PubKey many, many times.

And I think it's like inexplicable, unexcusable that the SEC allowed for Coinbase to be the custodian for so many of the ETFs and have so much centralization and concentration in one exchange.

Yes, and losses are permanent and it ties back to... what we had just ended on prior to that segment on the bullish setup for bitcoin currently but really requires a way to secure the asset confidently for the long term and so we need to talk about these coinbase allegations i'm going to go through a few of these posts here so producer nick just work with me um we don't necessarily need to cover the origins of this Essentially, someone here claims that they had $1.2 million taken from them on Coinbase.

The more important thing that's getting a lot of airtime currently is these posts from Ari Paul, the founder of BlockTower.

And he says first in this thread that Coinbase lost $25 million of his firm's money a couple years ago.

Turns out they were actually covering up a massive and repeated hacks.

I've been in this industry now for nine years as a professional, have managed a billion-dollar hedge fund.

You know, when I was at BlockTower, set up the crypto arm of this $70 billion hedge fund called GoldenTree, have basically made it my goal in life to do crypto right, to do everything in a proper fashion.

And as part of that, I have basically sworn off trenching and meme coins and have told my audience that over and over that meme coins are a dangerous place.

And I failed to heed my own advice in many ways.