Bankruptcy & Restructuring News Headlines for Wednesday Mar 27, 2024

Here's what we are reading this morning:

FTX Crypto Creditors Fight Claim That ‘Sam Coins’ Are Worthless - Bloomberg: A small group of FTX Trading customers are demanding hundreds of millions of dollars from the bankrupt crypto firm, claiming that three digital tokens known as “Sam Coins” deserve a payout even though they are closely associated with convicted fraudster Sam Bankman-Fried .

KuCoin Crypto Exchange Flouted Anti-Money Laundering Rules, US Says - Bloomberg: US prosecutors charged KuCoin, one of the world’s largest cryptocurrency exchanges, and two of its founders for failing to comply with American anti-money laundering rules.

Larry Fink Warns of ‘Snowballing Debt’ Hitting US Economy: BlackRock Inc. Chief Executive Officer Larry Fink said the US public debt situation “is more urgent than I can ever remember”

Logistics scramble after bridge collapse closes Port of Baltimore: “There will be dozens of diversions in the next week and hundreds in the coming months as long as Baltimore is shut down,” said Richard Meade, editor-in-chief of the shipping journal Lloyd’s List

Adam Neumann WeWork bid faces questions over financing, business plan: More broadly, people close to the matter say they’re skeptical of whether Neumann has committed financing lined up to support an offer. That’s because Neumann has previously named other financing sources in prior communications with WeWork’s advisors that haven’t come to fruition, the sources say.

Showplace Square building that once housed Airbnb headquarters heads for foreclosure - San Francisco Business Times: The 63,000-square-foot property, once a favorite landing place for tech tenants, traded hands in 2021 but has been sitting vacant for more than four years.

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