FTX’s bankruptcy hearing is underway and the details are wild. Here’s what to know.

Happy Thanksgiving eve, readers. I’m Phil Rosen. If you happen to be in New York without Thursday morning plans, you could swing by the Macy’s Thanksgiving Day Parade, where you can be hugged by thousands of people at once and still be cold.

But if you aren’t in New York, don’t sweat it — Macy’s is also hosting a parade in the metaverse this year. 

Personally, I’d rather see the giant Snoopy balloon in real life, but you could probably get away with a lighter coat if you go digital. 

Before we get to the news, I want to highlight the story behind the story of FTX. 

The collapse of Sam Bankman-Fried’s empire put the spotlight on crypto news outlets like CoinDesk and The Block. Those trade publications have been able to not only capitalize on the moment with smart scoops, but fend off a broader ad slump that’s plagued digital media of late.

Read the full story from Insider’s Reed Alexander and Steven Perlberg.

Programming note: The Opening Bell newsletter will be off on Thursday and…

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This article was written by [email protected] (Phil Rosen) and originally published on www.businessinsider.com