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On May 29, US President Trump stated that Iran must agree never to possess nuclear weapons. The Strait of Hormuz must be opened immediately, allowing unrestricted two-way traffic without any tolls. All mines must be cleared.May 29th - According to the Wall Street Journal, sources familiar with the matter revealed that the Trump administration is expected to propose amendments to the USMCA (United States-Mexico-Canada Agreement) requiring that at least half of the parts and raw materials used in automobiles originate from the United States as a prerequisite for enjoying the low tariff treatment under the agreement. This new rule would significantly increase the required "U.S. component" ratio (calculated in dollar value of components) for automobiles produced under the so-called USMCA framework. Currently, the agreement only requires that three-quarters of the vehicles materials originate from North America, without setting specific requirements for U.S. components.US President Trump: A meeting will be held now to make a final decision on the Iran issue; Iran must agree that they will never have nuclear weapons and bombs; the Strait of Hormuz must be opened immediately and without tolls.General Motors (GM.N) fell more than 3%, Ford Motor (FN) saw its gains narrow to 4%, and Stellantis (STLA.N) dropped 2%, after reports that the Trump administration wanted at least 50% of cars produced under the USMCA agreement to be made in the United States.On May 29, local time, Mohsen Rezaei, military advisor to Irans Supreme Leader, stated in an interview that Iran will force the United States to end its naval blockade; this can be achieved through negotiations, or through direct action if the other side resists. He also stated that despite the pressure, the future of the Iranian economy is bright and full of hope.

Crypto lender Voyager Digital gets approval to return $270 million to customers

Alice Wang

Aug 05, 2022 15:16

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Voyager Digital Holdings Inc., a cryptocurrency company, has been granted permission by the U.S. Bankruptcy Court in New York to restore $270 million in client funds, the Wall Street Journal reported on Thursday.


Voyager Digital Holdings Inc., a cryptocurrency company, has been granted permission by the US Bankruptcy Court in New York to restore $270 million in client funds, the Wall Street Journal reported on Thursday.


According to the Journal, Judge Michael Wiles, who is in charge of Voyager's bankruptcy, said the firm had "sufficient grounds" to back up its claim that clients should be given access to the custodial account kept at Metropolitan Commercial Bank.


The business did not immediately respond to requests for comment.


Voyager, one of several businesses that struggled after the widespread turbulence on the cryptocurrency market, filed for Chapter 11 last month.


Voyager reported that it had between $1 billion and $10 billion in assets and liabilities, as well as over 100,000 creditors, in its bankruptcy case.


The Federal Reserve and the Federal Deposit Insurance Corp (FDIC) issued an injunction to the firm last week directing it to stop making "false and misleading" promises about the government's protection of its clients' cash.


The firm only had a bank account at Metropolitan Commercial Bank, according to the authorities, and none of the investors using its platform were covered by the FDIC.


During the COVID-19 epidemic, cryptocurrency lenders like Voyager saw a surge in business, luring depositors with high interest rates and convenient access to loans that conventional banks seldom ever gave. Lenders have suffered from the recent decline in cryptocurrency markets, which was brought on by the failure of two significant tokens in May.

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