Crypto Exchange Bankruptcies: Are Prepetition Crypto Withdrawals and DeFi Loan Repayments Avoidable Preferences? | Morrison & Foerster LLP: Although there is a dearth of authority relating to these exact issues, it seems that those seeking to augment creditor recoveries through avoidance of cryptocurrency withdrawals and DeFi loan repayments will face several obstacles in doing so
FTX Says Top 50 Creditors Are Owed $3.1 Billion - WSJ: FTX owes its 50 largest creditors about $3.1 billion, the failed cryptocurrency exchange said in a bankruptcy court filing Saturday.
Crypto Bank Silvergate Battles FTX Contagion Fears - WSJ: The bank’s shares have plummeted even as Silvergate takes steps to reassure investors of its stability amid FTX’s collapse.
Celsius Failed to Set Up Controls to Track Customer Funds in Some Accounts, Examiner Says - WSJ: The crypto firm had established custody accounts meant to keep funds separate from deposits for investment purposes.
Carvana Faces Cash Crunch From High Debt, Rising Interest Rates - WSJ: The used-car dealer that was a pandemic winner is rushing to conserve cash as once-plentiful financing options dry up and business deteriorates.
The Block: Bitcoin miner Iris Energy unplugs hardware collateralizing over $100 million in loans: Iris Energy unplugged miners used as collateral for over $100 million in debt after receiving a default notice from its lender.
Venator Consults Turnaround Advisers Amid Cash, Earnings Drop: Chemical producer Venator Materials Plc is getting legal advice from Kirkland & Ellis as its financial losses deepen and cash coffers dwindle, according to people with knowledge of the matter who asked not to be named because discussions are private.
Sandy Hook families sued Alex Jones. Then he started moving money around. - The Washington Post: Records show Jones transferred millions from his media company to firms that he or his family members controlled
Infowars Bankruptcy Exposes Web of Alex Jones’ Family, Friends: Far-right conspiracist Alex Jones is facing heightened scrutiny as the bankruptcy of his Infowars parent company reveals a complicated web of corporate entities tied to his family and associates.
Honeywell Reaches $1.3 Billion Deal to End Asbestos Payments: Honeywell International Inc. agreed to pay about $1.3 billion to end payments over claims related to its past production of items containing asbestos, a known carcinogen, marking a step by the industrial giant to whittle down its environmental liabilities.
Beyond Meat’s Very Real Problems: Slumping Sausages, Mounting Losses - WSJ: Founder and CEO Ethan Brown has struggled to manage growth, some current and former employees say.
Crypto Firm Genesis Warns of Possible Bankruptcy Without Funding: Digital-asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and it’s warning potential investors that it may need to file for bankruptcy if its efforts fail, according to people with knowledge of the matter.
FTX Collapse: US Prosecutors Opened Probe Months Before Meltdown - Bloomberg: Long before Sam Bankman-Fried’s FTX cryptocurrency empire collapsed this month, it already was on the radar of federal prosecutors in Manhattan.