Bankruptcy & Restructuring News Headlines for Wednesday Jan 11, 2023

Here's what we are reading this morning:

The Block: Gemini head Winklevoss escalates DCG spat, demands removal of Silbert: Gemini President Cameron Winklevoss demanded the removal of Digital Currency Group head Barry Silbert in an open letter, escalating an ongoing spat over the frozen funds of the exchange's Earn users.

Coinbase to slash 20% of workforce in second major round of job cuts: CEO Brian Armstrong pointed to more pressure on the crypto sector thanks to "unscrupulous actors in the industry."

Bed Bath & Beyond Plans More Layoffs as Cash Dwindles - WSJ: Bed Bath & Beyond plans to accelerate cost cuts, as the home-goods retailer continues to face deep obstacles in its bid to remain solvent.

Class warfare in the crypto bankruptcies?: For the fans of Showtime’s Billions the idea of class warfare in high profile legal disputes is familiar...

Texas Bankruptcy Boutique Law Firm Becomes Ross, Smith & Binford with Offices in Dallas and Austin: Former Texas Assistant Attorney General Jason B. Binford has joined the respected bankruptcy and mediation firm Ross & Smith, PC, as a name shareholder

Delaware Bankruptcy Attorney Blake Cleary Joins Potter Anderson & Corroon LLP: Potter Anderson & Corroon LLP today announced that M. Blake Cleary, a Delaware bankruptcy attorney with more than 20 years of experience, has joined the firm as a partner and will serve as co-head of the firm’s bankruptcy practice.

The Block: Barry Silbert defends DCG in response to Gemini's Winklevoss: Silbert's letter is the latest salvo in an ongoing spat over the frozen funds of Gemini's Earn users after Cameron Winklevoss earlier called for his removal as CEO.

The Block: Gemini terminates Genesis loans, officially ends Earn Program: A loan agreement from Genesis for the Earn Program is no more, and the program will officially shut down, according to Gemini.

Party City Holds Talks on Potential Bankruptcy Loan - Bloomberg: Party City Holdco Inc. has sought funding for a potential Chapter 11 bankruptcy, according to people with knowledge of the preparations.

Bed Bath & Beyond Taps New Restructuring Adviser as Bankruptcy Looms: Bed Bath & Beyond has brought on turnaround consultant AlixPartners as its new restructuring adviser as the troubled home-goods retailer prepares for a likely bankruptcy, according to people familiar with the matter.

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