Here's what we are reading this morning:
2nd Circ. Keeps $1B Voyager Deal With Binance On Hold - Law360: The Second Circuit on Tuesday swiftly tossed aside an emergency request from bankrupt crypto lender Voyager Digital Holdings Inc. to lift a stay of its Chapter 11 plan ahead of a deadline to close a deal transferring $1 billion in customer accounts to Binance.US, finding that the court has no jurisdiction to hear the appeal.
Bankrupt crypto exchange FTX has recovered $7.3 bln in assets -attorney | Reuters: Bankrupt crypto exchange FTX has recovered over $7.3 billion in cash and crypto assets, an increase of more than $800 million since January, the company's attorney said on Wednesday at a U.S. bankruptcy court hearing.
FTX Considering Using Creditor Money to Restart Crypto Exchange - Bloomberg: The company is still in the early stages of deciding whether to bring back the exchange, which allowed customers to trade digital assets before FTX collapsed, Andrew G. Dietderich, an FTX attorney with law firm Sullivan & Cromwell told US Bankruptcy Judge John T. Dorsey.
Crypto Exchange FTX Could Reopen, Its Attorney Says; Firm’s FTT Token Surges: However, the attorney stressed that the possibility of re-starting FTX is one of many, and any decisions are far from final."There are as many opinions on this, I think, as there are professionals involved in this case," Dietderich said. "And that's a lot."
Here's the inflation breakdown for March 2023 — in one chart: Annual inflation eased to 5% in March, down from 6% in February. While it is still high, there are encouraging signs that it will continue to trend downward.
FTX’s Bankruptcy Lawyers: ‘The Dumpster Fire Is Out’: At a hearing on Wednesday, lawyers for the now-defunct exchange described it as a “digital Potemkin village” run by former CEO Sam Bankman-Fried.
More than 50K stores may close by 2027: UBS | Retail Dive: Small chains are most at risk due to lack of capital to build an omnichannel offering.