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Explaining the contagion effect in crypto. 3AC, Celsius, Solana, Axie Infinity, and BTC-backed Microstrategy’s margin call w/ Henry Elder

Ryan Pallotta
Terry Beeman
Henry Elder

Henry Elder is the Head of Decentralized Finance (DeFi) at Wave Financial. 

If you're unclear about what DeFi is and how it's different from its opposite CFi, this is definitely a podcast you'll want to listen to as Henry breaks it down in a way that anyone can understand. 

During our talk, Henry gives us a broad overview of the current crisis in crypto, explaining why movements in the broader market are felt more acutely in the crypto space and why a lot of Wave's clients are sitting on the sidelines and waiting things out. 

Then we talk about the contagion effect and unpack the misfortunes of Celcius and what's driving its growing insolvency risk.

We then discuss the margin call on bitcoin-backed Microstrategy's loan from Silvergate and what's happening with Axie Infinity, and the future of play-to-earn gaming. 

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