Bankruptcy & Restructuring News Headlines for Friday Jun 9, 2023

Here's what we are reading this morning:

Bankrupt Bittrex Can Redact Customer Info, Del. Judge Says - Law360: A Delaware bankruptcy judge allowed cryptocurrency company Bittrex to redact customers' and creditors' identities over the objections of the U.S. Trustee, saying Wednesday that the debtor had met its burden of proof that making customers' information public put them at risk of phishing attacks and identity theft.

Analysis: US SEC crackdown on Coinbase, Binance puts crypto exchanges on notice | Reuters: Other U.S. crypto exchanges are likely to be in the firing line after the Securities and Exchange Commission (SEC) this week sued Coinbase and Binance, two of the world's largest crypto exchanges, for allegedly breaching its rules.

GameStop shares plummet after fifth CEO exit in 5 years | Reuters: "It's hard to have an opinion with no earnings call, little-to-no investor communication, and lack of consistent strategic vision," Andrew Uerkwitz of Jefferies said. "One consistency remains, changes at the top. Over the last 5 years, GameStop has had 5 CEOs and 3 CFOs."

Jobless claims rise more than expected to highest since October 2021: Initial filings for unemployment benefits totaled a seasonally adjusted 261,000 for the week ended June 3, an increase of 28,000.

The Block: Gensler lays out paths for crypto compliance, criticizing Binance, Coinbase: The SEC chair also pushed back on public arguments about lack of guidance made by Coinbase.

The Block: BinanceUS suspends USD deposits, says bank partners will pause dollar payments next week: BinanceUS' banking customers are set to cut off USD payments support next week, according to a late Thursday announcement. BinanceUS said it is pausing USD deposits today and has asked users to withdraw USD via ACH by June 13. The exchange said this week’s SEC lawsuit has “created challenges for the banks with whom we work.”

Indoor Vertical Farmer AeroFarms Files for Chapter 11 Bankruptcy: AeroFarms Inc., an indoor vertical farmer that sells greens in grocery chains including Whole Foods and Harris Teeter, filed for Chapter 11 bankruptcy amid a wider slowdown in the industry.

Radiology Partners’s Lenders Seek Counsel as Debt Wall Looms: Some lenders to Radiology Partners are consulting with lawyers at Gibson Dunn & Crutcher to explore its options ahead of looming debt maturities, according to people with knowledge of the situation.

FTX’s US Judge Vows to Keep Control of Crypto in Blow to Bahamas - Bloomberg: The federal judge overseeing the bankrupt crypto firm FTX vowed to retain control over $7.3 billion in disputed assets, a potential setback for liquidators in the Bahamas seeking to claim to some of the money as part of a separate insolvency case on the island nation.

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