Bankruptcy & Restructuring News Headlines for Wednesday Feb 15, 2023

Here's what we are reading this morning:

Binance CEO CZ Says Algorithmic Stablecoins May Make a Comeback - Bloomberg: “The amount of pressure put on stablecoins is quite significant. Multiple agencies are applying pressure there,” Zhao, who heads the world’s largest crypto exchange, said during a Twitter Spaces Q&A on Tuesday. “That’s going to shrink the USD stablecoin market, so the industry is exploring its options.”

Tuesday Morning files for Chapter 11, again | Retail Dive: In its second bankruptcy filing since 2020, the discount retailer is planning to shrink its store footprint further and refocus on high-traffic stores.

Former FTX Executive’s Charity Generated Profits From Insider Token Prices: The Swiss nonprofit Polaris Ventures turned a donation of roughly $600,000 of FTT tokens into about $150 million, and is looking to cash out on its frozen FTX position.

Avaya Files for Bankruptcy After Big Earnings Miss: The technology company aims to restructure its balance sheet and resolve failures in its internal controls over financial reporting.

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