Here's what we are reading this morning:
The Private Law of Stablecoins by Kara J. Bruce, Christopher K. Odinet, Andrea Tosato :: SSRN: In this Article, we show, for the first time, just how unreliable and unstable this latest crypto innovation really can be.
Endo Creditors Eye Plan for Drugmaker’s Sale Through Bankruptcy: Creditors of Endo International Plc, the drugmaker facing opioid-related lawsuits, are discussing a deal that involves putting the entire company up for sale through bankruptcy, according to people with knowledge of the situation.
Bed Bath & Beyond Debt Rises Amid Meme Stock Wave: Debt tied to Bed Bath & Beyond Inc. rose Tuesday amid a wave of meme stock buying and a rally in the company’s shares.
Wells Fargo to Cut Back Mortgage Business After Scandals Take Toll - Bloomberg: Wells Fargo & Co. plans to shrink its vast mortgage empire, which once churned out one of every three home loans in the US and for a time made the bank the most valuable in the nation.
Bankrupt Crypto Lender Celsius Considers Financing Proposals - Bloomberg: Firm has multiple offers to help fund restructuring process; More offers are expected, Kirkland & Ellis lawyer says
Alex Jones Defamation Case Kicked Back To Connecticut For Trial: Defamation cases against Alex Jones brought by families of Sandy Hook Elementary School shooting victims can move forward in Connecticut state court, a Connecticut bankruptcy judge ruled, setting up the conspiracy theorist to face trial in early September.
J&J Unit Tells Appeals Court Only Bankruptcy Can Settle Talc Claims - WSJ: A Johnson & Johnson subsidiary urged a federal appeals court to uphold the controversial legal strategy it used to move to bankruptcy roughly 38,000 lawsuits linking its talc-based products to cancer.
Celsius CEO 'took control' of trading strategy in January and clashed with staff: FT: Mashinsky was convinced that a hawkish Fed decision would send already falling crypto prices lower, according to the report on Tuesday.
Inside the Crash of Three Arrows Capital: Everyone trusted the two guys at Three Arrows Capital. They knew what they were doing — right?
Stronghold shifts focus from bitcoin mining to selling power as it restructures debt: Bitcoin miner Stronghold announced in one swift move on Tuesday that it restructured its debt and decided to shift its focus to selling power over mining bitcoin.
Endo Enters Into Restructuring Support Agreement with Senior Secured Debtholders to Strengthen Financial Position and Advance Ongoing Business Transformation: Under the RSA, the debtholder group has committed to providing total purchase consideration of approximately $6 billion in the form of a credit bid, plus assumption of certain liabilities, for substantially all of the Company's assets.