Auto Dealers Gird for Softening Demand Amid Higher Rates, Uncertain Outlook - WSJ: A survey of 1,000 dealers shows their outlook on the market is the lowest it has been in five years.
Ruby Pipeline Backer Is Denied Bid Protections for Bankruptcy Sale: A bankruptcy judge raised concerns about a proposed deal for Ruby Pipeline’s co-owner to buy the business out of bankruptcy.
The Block: Bitcoin miner Marathon won't bid on bankrupt Compute North's assets, CEO says: Bitcoin miner Marathon decided against a bid on bankrupt hosting provider Computed North, according to CEO Fred Thiel.
Judge Pauses Galaxy’s $44 Million Deal to Buy Celsius Assets: A US bankruptcy judge declined to immediately approve Galaxy Digital’s deal to buy a Celsius Network subsidiary for $44 million, demanding more details about the structure of the sale.
GameStop CEO says it won’t risk ‘meaningful stakeholder capital’ in crypto | Retail Dive: The retailer’s cash and cash equivalents took a sharp drop as well, declining about 43% from $1.4 billion last year to $804 million.
Goldman Sachs on hunt for bargain crypto firms after FTX fiasco | Reuters: Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest.
Sam Bankman-Fried’s hedge fund was always a disaster | Semafor: Sam Bankman-Fried’s crypto hedge fund started losing money, in every way you could lose it, from the moment it had real money to lose.
Coindesk Opinion: Did Sam Bankman-Fried Finally Admit the Obvious?: In an exchange with YouTuber Coffeezilla, the former CEO disclosed that client funds weren’t segregated as promised.
Analyzing Retail Data and the Boost in Online Sales: Will Smaller Retailers Sink or Swim?: For larger retailers, online sales do not pose an existential threat, as most have already established omnichannel strategies with warehousing and distribution capabilities. But, this did beg the question for our team, what can we expect from smaller retailers who are more reliant on in-person, brick-and-mortar sales?
Accounting Red Flags Are Common Among Public Crypto Companies - WSJ: Weak controls and related-party transactions appear in disclosures across the industry.
Inside the collapse of RMF, America’s fifth-largest reverse mortgage lender - Reverse Mortgage Daily: Reverse Mortgage Funding was forced into Chapter 11 bankruptcy after its warehouse lenders pulled the plug