Defunct Crypto Lender BlockFi Looks to Restart Customer Withdrawals: Crypto held in BlockFi wallets belongs to customers and the company has “no legal or equitable interest,” in funds that were frozen when the platform halted operations on Nov. 10, a motion filed on Monday with the U.S. Bankruptcy Court for the District of New Jersey said.
Celsius Network Receives Multiple Bids for Retail, Mining Assets: Bankrupt crypto lender Celsius Network LLC has received multiple bids for its retail platform and mining businesses, according to a company presentation delivered in court Tuesday.
Adler’s Restructuring Plan Fails to Get Bondholder Approval: The holders of Adler Group SA’s longest dated bonds failed to back the company’s debt restructuring proposals, a blow to its attempt to avoid a fire sale of its assets.
Bitcoin Miner Greenidge Warns of Bankruptcy, Debt Restructuring: Greenidge Generation Holdings Inc.,once one of the largest public Bitcoin miners in the US, warned that it may seek bankruptcy protection while entering into debt restructuring talks with lender New York Digital Investment Group.
2023 Bankruptcy Outlook: Rising Interest Rates Lift All Restructuring Practices | The American Lawyer: Sluggish bankruptcy dockets betray the realities of rising costs and interest rates across sectors, leaving more companies with fewer options heading into 2023.
Bitcoin Miner Greenidge Reaches Debt Restructuring Deal With NYDIG as Bankruptcy Looms: Bitcoin mining firm Greenidge Generation (GREE) came to an agreement with its lender, NYDIG, about restructuring $74.7 million of debt, though a bankruptcy is still on the cards.
Retail default rate projected to rise as recession fears loom: The distressed retail landscape in the context of the latest data on spending, jobs and inflation: Cloudy, with a chance of defaults
With Sam Bankman-Fried's Hedge Fund Gone, Crypto Trading Firm Wintermute Emerges: By deftly navigating crypto’s frontier markets and winning big on the collapse of Terra’s stable coin, Wintermute has grown into one of the world’s leading crypto trading firms. Now it must navigate a market littered with carcasses and landmines.
FTX Claims Attract Baupost, Oaktree in Distressed Crypto Market - Bloomberg: The nascent market is heating up, but trades remain small
Judge Approves Celsius’s Request to Reopen Withdrawals for Some Users: Crypto lending platform Celsius Network will be able to resume withdrawals for some users. In a filing released Tuesday, Judge Martin Glenn of the U.S. Bankruptcy Court in New York approved Celsius’s request to reopen withdrawals for certain customers in its “custody program” and “withhold accounts.”