• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On July 1, Vincent Starmer, an economist at Commerzbank, pointed out that although the eurozone inflation rate reached the ECBs 2% target in June, it may decline again in the coming months. The previous rebound in inflation was mainly driven by oil prices - the escalation of the Israeli-Iranian conflict caused oil prices to soar by more than 10% in the short term. Starmer said that as oil prices fall at the end of the month, the inflation rate may also decline simultaneously. But he also pointed out that given the uncertainty of US tariff policy, the ECB is expected to suspend action later this month. Starmer added that the ECB is likely to cut interest rates in the fall because tariff measures will curb European exports and put downward pressure on commodity prices.Ideal Auto (02015.HK): In the 26th week of 2025 (June 23-June 29), Ideal Auto’s weekly sales volume was 8,000 vehicles.On July 1, SERES announced that its sales of new energy vehicles in June 2025 were 46,086 units, a year-on-year increase of 4.44%; the cumulative sales from January to June were 172,100 units, a year-on-year decrease of 14.35%.On July 1, the new Bank of Japan member Masuichi Koichi made a clear statement at his inauguration press conference on Tuesday, supporting the gradual and cautious interest rate hike policy of Governor Kazuo Ueda. The member, who started his five-year term, said: "In terms of the current economic situation, the time is not yet ripe for accelerated interest rate hikes. I fully agree with the governors views and we must act prudently." These remarks show that Kazuo Uedas policy stance has won support on the nine-member committee as he waits for the impact of US tariffs on economic data. Masuichi Koichi replaced former member Toyoaki Nakamura, who voted against Uedas rate hike decisions three times.Market news: Iraq said that Irans natural gas imports have dropped by half in the past few hours.

What the Voyager Digital Bankruptcy Means for Your Cash and Crypto

Skylar Shaw

Jul 12, 2022 14:43

微信截图_20220712143144.png


After publishing an update on the assets kept by users on its platform, Voyager (OTCMKTS:VYGVF) is once again in the news. This is the most recent development in the tale since Voyager Digital filed for bankruptcy on July 6.


Since Voyager stopped all withdrawals, deposits, and incentives on July 1st, users have been living in a world of uncertainty. The collapse of the cryptocurrency hedge fund Three Arrows Capital was cited as the reason for the crypto lender's decision to file for Chapter 11 bankruptcy (3AC). Before 3AC disclosed its insolvency, Voyager had financed it $650 million.


If the Federal Deposit Insurance Corporation (FDIC) is backing the US dollars (USD) on the platform is another contentious issue (FDIC). The FDIC is now investigating Voyager's client outreach for deposit insurance.


However, based on the most recent business update, it seems that Voyager clients will be able to receive their USD back. Now let's discuss the specifics.

What Your Cash and Crypto Means After the Voyager Digital Bankruptcy

According to the update, Voyager maintains USD in a Metropolitan Bank For Benefit of Customers (FBO) account (NYSE:MCB). The USD balance in each customer's account is the same as the USD balance Voyager has in its FBO account. Customers' USD will thus be available following "a reconciliation and fraud prevention procedure" and is FDIC-insured. Voyager stressed:


"To be clear: Voyager does not handle client cash; that cash is housed at MCB. FDIC insurance does not protect against the demise of Voyager."


The platform's crypto assets are a separate matter, even if it seems that the FDIC covers Voyager's USD. Currently, Voyager has around $1.3 billion worth of cryptocurrency holdings. Customers will be compensated for their current holdings under the parameters of the Chapter 11 restructuring plan with a mix of cryptocurrency and stock. Customers may choose how much common stock and cryptocurrency they want to get.


Voyager tokens and the remaining cryptocurrency were returned. Customers will furthermore get common shares in the newly reformed firm and money recovered from 3AC. Voyager points out that the suggested approach might yet alter.


Voyager is now seeking further strategic options. The potential of a "third-party investment or sale" was also acknowledged by the corporation.