Crypto Collides With Rigid Bankruptcy Courts
Federal judges are filling the gap that in other industries would be overseen by regulators
Sam Bankman-Fried, left, departs court in New Yorkon Jan. 3. Bankman-Fried pleaded not guilty to criminal charges Tuesday and is set to face a trial in October.
Photographer: Jeenah Moon/BloombergWelcome to The Brink, where Bloomberg’s reporters bring you all the latest on the world of distressed debt, bankruptcies and corporate blowups — from FTX to Bed Bath & Beyond — as well as the businesses that dodged collapse. I’m Jeremy Hill, a reporter in New York, and this week we’re looking at how the fast-and-loose crypto world is colliding with the rigid rules of bankruptcy courts. Follow this link to subscribe. Send us feedback and tips at jhill273@bloomberg.net or Tweet/DM to @JeremyHtweets.
When it comes to crypto bankruptcies, the simplest of tasks can quickly turn into a nightmare.