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ARTICLE · 03 OCTOBER 2022

What We're Reading This Week [September 30, 2022]

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Reuters reports that the markets in the US have faced their third straight quarterly decline, the longest period of decline for the S&P 500 and Nasdaq indices since 2008.

United StatesInsolvency/Bankruptcy/Re-Structuring
Joshua R. Gross
Joshua R. Gross
Aaron Gavant
Aaron Gavant
Sean Scott
Sean Scott
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Reuters reports that the markets in the US have faced their third straight quarterly decline, the longest period of decline for the S&P 500 and Nasdaq indices since 2008. This comes amid a period of rising interest rates and persistently high inflation (including double-digit inflation in the Eurozone), contributing to fears that a recession is imminent or even ongoing. [Reuters, Sept. 30, 2022; WSJ, Sept. 30, 2022]

It's been a busy week in the crypto world. Bankrupt cryptocurrency lender Celsius Network filed a motion for approval of a two-step auction process for separate sales of its retail platform and crypto holdings, which comes just days after its CEO suddenly resigned. Meanwhile, Voyager Digital announced that crypto exchange FTX US was the prevailing bidder in Voyager's bankruptcy auction, netting approximately $1.4 billion in consideration. Finally, Bitcoin miner Compute North just commenced its own Chapter 11 case, seeking approval of a sale of

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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