Source: Sam Bankman-Fried told investors that FTX needs a cash injection or the company would need to file for bankruptcy due to a shortfall of up to $8B (Gillian Tan/Bloomberg)

Wall Street Journal:
Sources: Sam Bankman-Fried has unsuccessfully continued to attempt to raise $8B to plug FTX’s shortfall, despite filing for bankruptcy and resigning as CEO  —  Alongside a few remaining employees, Mr. Bankman-Fried spent the weekend calling around in search of new commitments from investors

Gillian Tan / Bloomberg:
New York-based Bilt, which offers a loyalty program and credit card to convert rent payments into points, raised $150M led by Left Lane at a $1.5B valuation  —  Bilt Rewards, which operates a loyalty program and credit card that converts rent payments into points, said its valuation more than quadrupled to $1.5 billion.

Gillian Tan / Bloomberg:
The Coterie, which lets founders access funds from Coatue, a16z, and others to sidestep illiquid stock, raised a $40M Series A led by a16z at a $100M+ valuation  —  Andreessen Horowitz led a $40 million funding round for The Coterie, valuing the financial technology platform at more than $100 million.

CNBC:
FTX files for Chapter 11 bankruptcy in the US; Sam Bankman-Fried resigns as CEO  —  Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for bankruptcy.

Bloomberg:
Sources: Genesis is struggling to raise funding for its lending unit and warns potential investors that it may need to file for bankruptcy if its efforts fail  —  Digital-asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and it’s warning potential investors …

Angus Berwick / Reuters:
Sam Bankman-Fried says he is in the Bahamas, denying speculation on Twitter that he had flown to South America after FTX filed for bankruptcy  —  FTX founder Sam Bankman-Fried told Reuters on Saturday that he was in the Bahamas, denying speculation on Twitter that he had flown to South America …