Seward & Kissel partner Bob Gayda spoke with reporters from Forbes, Bloomberg, the Financial Times, and Reorg to share his thoughts on recent crypto bankruptcies, including Celsius Network LLC and Voyager Digital. Bob discussed challenges crypto companies may face when paying off their debts, why stablecoin issuer Tether is facing scrutiny over a loan it recovered from Celsius, why Voyager is searching for prospective purchasers for the platform or investors who can finance the platform, and how the problems crypto is facing can be isolated to a few companies that have intertwined themselves, among other topics.

Read the articles below:

• Forbes: Celsius Has Paid Its Debts To DeFi’s Biggest Lenders, Reclaiming Over $1 Billion In Collateral––By Nina Bambysheva; July 13, 2022
• Bloomberg: Celsius Paydowns Take Crypto Lender Into ‘Uncharted Territory’––By Yueqi Yang and Olga Kharif; July 13, 2022
• Financial Times: Tether’s recovery of an $840mn loan scrutinised in Celsius bankruptcy––By Kadhim Shubber; July 26, 2022
• Reorg: Crypto Questions: Who Owns the Assets, How to Reorganize and What Enforcement Comes Next?––By Ellen Schneider; July 27, 2022

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Robert J. Gayda

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gayda@sewkis.com

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