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French industrial production rose 0.1% month-on-month in June, below the expected 0.3% and the previous reading of -0.10%.Frances June industrial production figures will be released in ten minutes.Futures Commentary by Everbright Futures: Geopolitical tensions eased again, and overnight London spot gold rose 0.57%, while SHFE gold closed up 0.87%. The reopening of the Strait of Hormuz raised concerns, causing oil prices to fall rapidly. Additionally, the US June JOLTS job openings fell more than expected. Gold may maintain a bottoming-out trend in the short term, with attention focused on Fridays non-farm payroll data. On the macroeconomic front, US June JOLTS job openings fell to 7.36 million from 7.54 million in May, below the expected 7.45 million, indicating a relatively stable labor market. The president of the Philadelphia Fed, a 2026 voting member of the Federal Reserve, stated that he remains open to the direction of monetary policy, and whether core inflation can continue to decline is a key factor in his judgment. Geopolitically, US-Iran negotiations continued to release easing signals, and expectations for the reopening of the Strait of Hormuz increased. While the US-Iran geopolitical situation continued to ease, the US dollar weakened, and although gold performed relatively strongly, it still exhibited a weak bottoming-out trend, failing to give the market stronger confidence. This may stem from investors apprehension about the upcoming non-farm payroll data.Japans Topix index rose 2%.SpaceX shares fell 7% on Tradegate, roughly in line with its after-hours performance on the US stock market.

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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