Why the Celsius Examiner Report Shows 'a Complete Disaster in Almost Every Way' - Ep. 451 - Unchained Podcast: Following the release of Celsius' examiner report, Kadhim Shubber, an investigative reporter at The Financial Times, dives into the controversial business practices of the lender, how the company inflated the CEL token, the use of customers' money, and much more.
Fitch Ratings lifts forecast for retail default rate:
January Jobs Report Updates: Pace of U.S. Hiring Surged Unexpectedly - The New York Times: After several months of cooling, the economy added far more jobs than economists anticipated. The unemployment rate fell to its lowest level since 1969.
U.S. credit card debt jumps 18.5% and hits a record $930.6 billion: Inflation and higher interest rates boosted credit card debt to a record $930.6 billion at the end of 2022, a 18.5% jump from a year earlier, TransUnion found.
Celsius Bankruptcy Case: February 2, 2023 | Polsinelli : As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York, the highly anticipated examiner report was released on January 31st.
Bankruptcies in CMBS; Tenant and Loan-Level Insolvencies Heighten Distress: A series of bankruptcies have impacted the commercial real estate market significantly in recent months. Inflation, supply chain issues, and shifting business models have negatively affected cash flow to properties, many of which are securitized in the CMBS market.
The Block: CFTC 'well-positioned' to fill regulatory gap in crypto: Behnam: The CFTC chair outlined his vision for increased guardrails around digital assets, including whether companies listing crypto derivatives need tighter rules on employee trading, and continued his push to give the agency more authority over spot markets. CFTC's Behnam says the agency ready to step in to fill the regulatory gap in cryptocurrency, while predicting another strong year of enforcement cases in the industry.
Genesis creditors are starting to bail on bankrupt lender: Prior to the bankruptcy, many Genesis creditors said they still believed they'd be able to get all or most of what they had deposited back.
Bankman-Fried's Emergent Fidelity That Owns Robinhood Stake Goes Bankrupt - Bloomberg: Sam Bankman Fried’s Emergent Fidelity Technologies, an offshore corporate entity that owns 55 million shares of Robinhood Markets, filed for bankruptcy
Silvergate Faces US Fraud Probe Over FTX, Alameda Crypto Dealings - Bloomberg: Bank hasn’t been accused of wrongdoing; probe in early phases; Silvergate shares tumble more than 20% in extended trading
New Jersey's American Dream mall misses another debt payment | Bond Buyer: A reserve account doesn't hold enough cover the semi-annual $8.7 million interest payment, said the bond's trustee.
Long Island Diocese Offers $80 Million Less in Bankruptcy Than Sex-Abuse Victims Seek: The Diocese of Rockville Centre’s reorganization plan leaves less money for victims than rival plan proposed by victims
Retail layoffs in January spiked 3,225% year over year: report | Retail Dive: Job cuts in the industry last month, which amounted to 13,000, came second only to tech.
FTX Inquiry Expands as Prosecutors Reach Out to Former Executives - The New York Times: Federal prosecutors in Manhattan are speaking with lawyers for former officials at the collapsed crypto exchange FTX and scrutinizing the immediate family of its founder, Sam Bankman-Fried.
Gawker Suspends Operations Amid Bustle Digital Group Layoffs – Deadline: Bustle Digital Group on Wednesday announced that it was shutting down the revived media brand, about 18 months after reviving the title.
Potential Buyers Circle Ailing Singapore Crypto Firm Hodlnaut and its FTX Claims - Bloomberg: “Various parties who are interested in acquiring” Singapore-based Hodlnaut’s crypto platform and FTX claims have contacted the interim judicial managers overseeing the company after it sought protection from creditors, according to an affidavit seen by Bloomberg News.
