City Arrow Financial News

The crypto brokerage and lenderVoyager Digital faced severe tides since it filed forbankruptcy proceedings on 6 July 2022. Impacted by the collapse of Three Arrows Capital (3AC), Voyager Digital, in a 22 June press release, informed its users of its 15,250 BTC and $350 million investment exposure to 3AC.

Crypto exchange FTX has acquired bankrupt crypto lender Voyager for $1.42 billion. The crypto exchange won in an auction to purchase Voyager's assets against competing crypto investment firm Wave Financial.The move comes after Voyager rejected FTX's bailout proposal earlier this year.

Cryptocurrency lender Nexo on Tuesday announced it has taken a stake in a federally-regulated U.S. bank, paving the way for the company to offer banking services to Americans as a licensed institution.

Customers of beleaguered cryptocurrency lender Voyager Digital may find some solace in the news that FTX, the bitcoin exchange founded by billionaire Sam Bankman-Fried, is set to take on the company's assets after winning a bankruptcy auction.

 

Crypto lenders such as Voyager boomed during the COVID-19 pandemic.

Voyager Digital Ltd Chief Financial Officer Ashwin Prithipaul is preparing to step down from his role within months of his appointment at the crypto lender that filed for bankruptcy in July. The company said on Friday the finance head would resign after a «transition period» to pursue other opportunities, and that Chief Executive Officer Stephen Ehrlich will head the role in the interim. Crypto lenders such as Voyager boomed during the COVID-19 pandemic, drawing depositors with high interest rates and easy access to loans rarely offered by traditional banks. But inflation and subsequent rate hikes by the U.S. Federal Reserve led to a wide sell-off in the alternative asset class that dealt a heavy blow to several companies in the sector.

Odell, an analyst at British crypto lender Blockchain.com, instant messaged Edward Zhao of Three Arrows Capital asking that the Singapore hedge fund repay at least part of a $270 million loan. Three Arrows had just taken a hit from the collapse of cryptocurrency Terra, raising doubts about its ability to repay. That was a worry for Blockchain.com since it had not taken collateral to secure the loan, court filings show. «This is time sensitive so let's sort if you're available,» Odell said of the repayment. Zhao appeared lost for words.

Bitcoin’s (BTC) and Ether’s (ETH) agonizing 60% and 66% respective drop in price is drawing a lot of criticism from crypto critics and perhaps this is deserved, but there are also plenty of stocks with similar, if not worse performances. 

A recent Bloombergreport stated that upcoming legislation would ban algorithmic stablecoins such as TerraUSD that collapsed in May this year leading to a global crypto crash.

Most crypto investors probably never heard of Wintermute Trading before the Sept. 20 $160 million hack, but that does not reduce their significance within the cryptocurrency ecosystem. The London-based algorithmic trading and crypto lending firm also provides liquidity to some of the largest exchanges and blockchain projects.

On May 11, Scott Odell, an analyst at British crypto lender Blockchain.com, instant messaged Edward Zhao of Three Arrows Capital asking that the Singapore hedge fund repay at least part of a $270 million loan.

Court filings made by Voyager Digital indicate that the bankrupt crypto lender is seeking to unwind a loan of $200 million that was extended to Alameda Research, Sam Bankman-Fried’s quantitative crypto trading firm.

Voyager Digital will receive about $200 million in repayment of loans from trading firm Alameda Research.

The wanted crypto developer Do Kwon, who is accused of fraud by investors following the $45 billion (€45 billion) collapse of his cryptocurrencies Luna and TerraUSD, is reportedly trying to evade South Korean authorities.

FTX CEO Sam Bankman-Fried has been shopping for bargains amid the industry's recent carnage and said he still has cash to spend if opportunity knocks.

Although coin prices have been recovering slowly, it appears that the market downturn may be nearing an end, especially since the traditional economy is beginning to improve. With that in mind, several assets are currently trending and could present excellent buy opportunities. This article will explore some of the best trending coins to buy right now. 

Due to the South Korean government’s request for his arrest, Do Kwon, the founder of Terraform Labs, is in grave danger. The cryptocurrency market lost $40 billion as a result of Terra’s stablecoin USTC and Terra Classic LUNC collapsing.

An arrest warrant for Do Kwon, the co-founder of the defunct stablecoin issuer Terraform Labs, which was responsible for many losing their life savings after investing in crypto, has been issued by a South Korean court.

The probe into Terraform Labs by South Korean prosecutors is taking a whole new twist as watchdogs are making consultations on how best to classify the collapsed LUNA tokens — now known as Luna Classic (LUNC).

The crypto market has just added $50 billion in a lightening-fast recovery from what some market watchers were fearing might be the start of the next leg down in a revisiting of the year's lows.