ZachXBT criticized SBF, saying FTX creditors were repaid based on November 2022 prices rather than current values, causing major losses for holders of assets like SOL and BTC.https://t.co/M5ptLxrv9eZachXBT (@zachxbt):@SBF_FTX [ZachXBT says:]The creditors were paid from crypto prices at the time of the FTX Nov 2022 bankruptcy and not at current prices which caused users to take massive losses if they held assets like SOL or BTC.Illiquid investments worth more today are just a coincidence.You ...

The $KDA bankruptcy announcement is just the beginning. We’re now seeing the first effects of the liquidation cascade from weeks ago, and soon we can expect more bankruptcy announcements from trading firms and altcoin projects. It’s obvious that many things broke on that day https://t.co/XBMw3nW3Hs ...

Market Trends & Sentiment - GameStop (GME) is trending due to discussions of potential short squeeze scenarios, drawing comparisons to stocks like BYND and AMC [1] - Bitcoin (BTC) is trending due to capital rotation from gold, with bullish sentiment suggesting potential price doubling [2] - Tether (USDT) is trending due to its role as a widely used stablecoin with 500 million users, influencing crypto trading [3] Project Developments & Challenges - Kadena (KDA), a Layer 1 blockchain project, is ceasing operations and entering bankruptcy, causing a 60% plummet in the KDA token [4] - Chainlink is trending due to its involvement in the Federal Reserve's Payments Innovation Conference, integrating traditional finance with DeFi [5] - Ethereum is trending due to discussions about its ecosystem, governance issues, and its relationship with projects like Polygon [6] Institutional & Corporate Involvement - Chainlink is attracting attention from major financial and tech firms like BlackRock, Coinbase, Google Cloud, and Circle [5] - Tether Gold (XAUT) is highlighted for institutional adoption and future potential in decentralized finance [3] - Ethereum Foundation is involved in large ETH transfers, contributing to market activity [6]

Financial Distress - The company faces total bankruptcy [1]

Core Viewpoint - Analysts at Goldman Sachs express serious doubts about First Brands Group's ability to avoid bankruptcy due to concerning financing arrangements and high-interest rates [1][2]. Financial Concerns - First Brands Group is in discussions with creditors to restructure its $6 billion debt, with a potential Chapter 11 filing being considered [3]. - The company's loans have significantly decreased in value, attributed to worries over its off-balance sheet factoring practices [3][4]. Debt and Valuation - First Brands' first-lien loans are currently valued between 44.5 and 46.5 cents on the dollar, indicating market skepticism about the company's financial health [4]. - Creditors are assessing losses in the billions, raising questions about debtor-in-possession financing, profitability post-debt unwinding, and equity distribution in a potential bankruptcy scenario [6].

First Brands' slide from refinancing candidate to the brink of bankruptcy in one month. Read it here in The Brink. https://t.co/ZIT2j5QbPb ...

Federal Reserve Chair Jerome Powell on Wednesday said Congress should consider allowing student loan borrowers the ability to discharge their loans in bankruptcy. ...

The Altman Z-score is the output of a credit-strength test that gauges a publicly traded manufacturing company's likelihood of bankruptcy. https://t.co/JGZujp2Ay5 ...