Bankruptcy & Restructuring News Headlines for Tuesday Jan 10, 2023

Here's what we are reading this morning:

Binance Is Bleeding Assets, $12 Billion Gone In Less Than 60 Days: The outflow of cash from Binance is worse than the CEO Chanpeng Zhao indicated last month, and its become considerably more severe since then, a Forbes analysis shows.

Celsius Bankruptcy Court Holds Customer Deposits in “Earn Accounts” Are Estate Property | Morrison & Foerster LLP: For many observers, the decision was altogether unsurprising; regardless of whether users understand (or even read) what they are signing up for, courts time and again have found that clickwrap contracts such as Celsius’ Terms of Use, are valid and enforceable.

Risk Management at Crypto Firms Is in Focus Following FTX Collapse - WSJ: Recent turmoil has prompted questions about what the nascent industry is doing to manage risks and how to identify red flags that signal a firm is in trouble

Bed Bath & Beyond (BBBY) Suppliers Lost Patience, Speeding Path to Bankruptcy - Bloomberg: Bed Bath & Beyond Inc.’s faster-than-expected decline toward bankruptcy happened in large part because suppliers began to ask for increasingly stringent payment terms and credit requirements heading into the pivotal holiday shopping season, according to people who have worked with the company.

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