Bankruptcy & Restructuring News Headlines for Tuesday Dec 6, 2022

Here's what we are reading this morning:

Maple token down more than 24%, cuts ties with Orthogonal Trading following $36 million default: Maple is down 24.7% in the past day as crypto hedge fund Orthogonal Trading defaults on $36 million in loans.

Crypto lender Nexo says it's leaving the U.S., cites regulatory 'dead end': The firm has faced a legal dogpile from various state and federal regulators within the U.S. as scrutiny on lenders ramped up over the past year. 

Sam Bankman-Fried takes aim at FTX CEO John Ray in new interview: Bankman-Fried, the former CEO of FTX, made the comments during a wide-ranging interview on The Block’s “The Scoop” podcast

Small Investors Who Jumped Into Crypto on FTX Say, Now What? - The New York Times: Many small investors who piled into cryptocurrencies on FTX, BlockFi and other platforms are recognizing the perils of investing in an unregulated industry.

Celsius Judge to Rule on Whether Lender Owns Depositors’ Crypto: A federal judge will soon decide whether depositors at Celsius Network LLC gave up ownership of their cryptocurrencies in exchange for interest payments, a key legal issue that could echo through other crypto bankruptcies.

Bertucci’s Restaurant Chain Goes Bankrupt for Second Time: Bertucci’s Restaurants LLC, the owner and operator of the Italian fast-casual restaurant chain, filed for bankruptcy, citing operating losses stemming from inflation and the Covid-19 pandemic.

FTX Effort to Save Itself Failed on Questionable Assets - WSJ: The assets, which consisted largely of four thinly traded crypto tokens, likely were worth less than the $6.4 billion FTX was claiming.

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