FTX Bankruptcy Could Spark Blizzard In Crypto Winter - Law360: The sudden downfall and bankruptcy of cryptocurrency exchange FTX could make the ongoing crypto winter a lot colder as the effects of its collapse are expected to ripple out through a crypto space where account holders are already fighting to recover their digital assets from failed platforms, experts say.
The Block: Ikigai's Travis Kling says hedge had 'large majority' of assets on FTX: The Puerto Rico-based crypto asset management startup had a "large majority" of its assets on FTX.
Fitch downgrades Party City as maturities loom | Retail Dive: The party goods retailer is fast losing any financial cushion, its turnaround is uncertain and restructuring is “probable,” Fitch analysts said last week.
FTX, Sam Bankman-Fried Sit in the Crosshairs of U.S. Prosecutors - WSJ: The crypto exchange’s collapse likely exposed the company and its founder to potential criminal liability.
The Block: BlockFi says platform pause will continue: "The rumors that a majority of BlockFi assets are custodied at FTX are false," the company said in a blog post, adding that it did have "significant exposure to FTX and associated corporate entities."
Creditors Prepare Default Claim on Apollo’s Brightspeed Debt: Embarq Corp. creditors are preparing a notice of default over the $3.9 billion debt package to help fund Apollo Global Management Inc.’s buyout of a Lumen Technologies Inc. business unit, according to people with knowledge of the matter.
Bitcoin ATM Operator Coin Cloud Hires Adviser to Rework Debt - Bloomberg: Coin Cloud has tapped M-III Partners and B Riley Securities to help rework about $125 million of debt that the operator of Bitcoin automatic teller kiosks accumulated during a period of aggressive growth, according to people with knowledge of the situation.
Alameda Amassed Crypto Tokens Ahead of FTX Listings, Public Data Shows: WSJ: Over the course of a year, trading firm Alameda Research amassed swaths of tokens ahead of affiliated crypto exchange FTX saying it would list them, according to an analysis of public blockchain data from analytics firm Argus.
How Sam Bankman-Fried’s FTX Crypto Empire Collapsed - The New York Times: Mr. Bankman-Fried said in an interview that he had expanded too fast and failed to see warning signs. But he shared few details about his handling of FTX customers’ funds.
The Block: FTX to reorganize, new CEO seeks support from staff during company conference call: FTX's new CEO John Jay Ray III called on staff to rally together during an all-hands meeting after last week's bankruptcy protection filing, people who were on the call told The Block.
