Bankruptcy & Restructuring News Headlines for Thursday Aug 4, 2022

Here's what we are reading this morning:

Michael Saylor Bet Billions on Bitcoin and Lost - WSJ: The longtime MicroStrategy CEO, and perhaps the biggest bitcoin bull, steps down.

Elite Restructuring Team Joins Dechert in New York: Dechert LLP announced today the lateral acquisition of a top-tier restructuring team, consisting of partners Doug Mannal and Stephen Zide. They will be the sixth and seventh partners to join the global financial restructuring practice in the past three years and are key hires in the strategic growth of the firm’s New York offering.

Early Investor In Defunct Luna Token Plans to Raise Another Crypto Fund - Bloomberg: Hashed lost some $3 billion worth of Luna tokens in crash

Senate Plan Would Put Bitcoin, Ether Under Commodity Regulator’s Watch - WSJ: Leaders of a Senate committee are set to propose legislation that would assign oversight of the two largest cryptocurrencies, bitcoin and ether, to the federal agency that regulates milk futures and interest-rate swaps.

Lucid Motors Slashes Production Forecast, Blaming Supply Chain Chaos - The New York Times: The maker of luxury electric cars that hopes to challenge Tesla struggled to get parts and build vehicles in the second quarter.

American Dream fails to make $8.8M interest payment on $290M in N.J.-backed bonds - The massive, 3.3-million square-foot mall in East Rutherford did not make an $8.8 million payment that was due on Monday, according to a regulatory filing to bondholders by U.S. Bank Trust Company.

Bed Bath and Beyond Is Said to Mull Private Loans for Liquidity: Bed Bath & Beyond Inc. is considering tapping the private credit market to boost liquidity as the struggling retailer burns through its cash.

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