Paul Vigna

One first impression of the group of lawyers investigating FTX’s bankruptcy is: There are a lot of them. And there is a lot to unravel. FTX was one of the worst-run companies anyone in the bankruptcy team has ever seen, said James Bromley, a partner at the law firm Sullivan & Cromwell, in this morn

The first hearing of the FTX bankruptcy case ended shortly after 1 p.m. ET, roughly two hours after it started—including a 10-minute recess that, for those following via Zoom call, featured the song “Sorry” by Justin Bieber. The next hearing will be scheduled for the week of Dec. 16.[Read the J

Things aren’t exactly improving for bitcoin miners. The companies that operate the computer equipment upon which the bitcoin network operates have been roiled over the past year by the crash in crypto markets. On Tuesday, Core Scientific reported it lost $435 million in the third quarter, compared

Crypto exchanges have a particular problem right now: Their customers don’t trust them. Customers are taking their assets out of crypto-exchange wallets and putting them into their own wallets at a rate that would equal about 172,700 bitcoins per month—worth $2.8 billion at current prices, accordin

As FTX plunged into chaos and bankruptcy in November, crypto investors were pulling money out from wherever they could. Crypto-fund asset managers like Grayscale Investments, CoinShares International Ltd. and others saw investors withdraw $19.6 billion in November, according to research firm Crypto

The Wall Street Journal’s full markets coverage.

Wages for some of the most actively hiring sectors in November still lagged the overall inflation rate. Table B-8 of the Bureau of Labor Statistics breaks out hourly and weekly wages for production and nonsupervisory employees, which comprise about four-fifths of the workforce.A look at the table

Circle Internet Financial, the company that operates the USD Coin stablecoin, is ending its attempt to go public through a Special-Purpose Acquisition Company, or SPAC. Circle and Concord Acquisition announced they canceled the proposed SPAC, which had a deadline of Dec. 10 to close the deal. Conco

Circle Internet Financial, the company that operates the USD Coin stablecoin, is ending its current attempt to go public though a special purpose-acquisition merger.

Though there was one rather high-profile bankruptcy in November, corporate bankruptcies in the U.S. last month were down from October, according to S&P Globa