Here's what we are reading this morning:
How EVs are upending the 100-year-old auto supply chain: Companies that make parts for internal combustion engines are facing a harsh future. EVs have different parts, and automakers are doing more themselves.
DCG says it's close to reaching agreement on Genesis Chapter 11, appoints new CFO | The Block: DCG told shareholders in its Q2 financial update that it is close to resolving the claims in the bankruptcy case of Genesis Capital.
Litigation Funders See Growing Opportunities in Bankruptcy Boom: Litigation finance is working its way into corporate bankruptcy proceedings as Chapter 11 cases pile up, enabling more lawsuits and strengthening plaintiffs’ claims against third parties who may have caused or worsened a bankrupt company’s distress.
Cargo Airline Western Global Reaches Bankruptcy Financing Deal - Bloomberg: Western Global Airlines LLC has reached a deal with creditors that would allow the cargo carrier to keep operating while it reworks its debt load in a potential bankruptcy, according to people familiar with the matter.
Ripple (XRP) Ruling Rejected by Federal Judge in Terra, Do Kwon Case - Bloomberg: A federal judge in New York split with another judge who earlier this month ruled that a Ripple Labs token was not a security when sold to the public on secondary markets, adding to uncertainty over cryptocurrency regulation.
FTX Draft Bankruptcy Plan Calls for Cash Repayment, FTT Wipeout - Bloomberg: FTX Group unveiled a draft creditor-repayment plan as part of its bankruptcy that calls for settling customer claims in cash and wiping out its digital token FTT.