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June 15th - U.S. homebuilder confidence declined further in June, driven by rising mortgage rates and building material costs, while confidence in the southern region deteriorated significantly. Data released Monday by the National Association of Home Builders (NAHB) and Wells Fargo showed that the housing market index, which measures overall market conditions, fell 2 points to 35 this month, below market expectations. As the largest homebuilding region in the U.S., the South saw its largest drop in confidence since November 2023. The NAHB stated that June marked the 14th consecutive month the index had remained below 40, the longest sustained period of weakness since 2011-2012. Looking at the sub-indices, the current sales conditions index fell 2 points to 38, while future sales expectations and potential homebuyer visits remained unchanged. The NAHB attributed the overall index decline to rising building material prices, increased financing costs, and regulatory factors hindering home construction.The UN Security Council voted to extend the mandate of the UN mission in Afghanistan for another year.EUROSAM (European Air Defence Corporation) is negotiating with Hungary and Kuwait on alternatives to the Patriot air defense missile system. A progress meeting will be held to discuss EU review.The U.S. NAHB Housing Market Index for June was 35, below the expected 36 and the previous reading of 37.US Vice President Vance: Unless Iran fulfills its obligations, they wont get a penny. The funds were talking about are essentially sanctions relief.

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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