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The main Shanghai silver futures contract fell by 2.00% during the day, currently trading at 16,545.00 yuan/kg.Japanese Finance Minister Satsuki Katayama: We strive to achieve the dual goals of economic growth and sustainable finance.Japanese Finance Minister Satsuki Katayama: We still hope that the Strait of Hormuz will be opened as soon as possible, and will respond appropriately based on the impact of the US-Iran negotiations on the international community.On August 25th, US President Trump, who had previously claimed the US didnt need Canada, stated on Monday that Canada does indeed have the aluminum he wants. Trump said, "This country desperately needs aluminum. Selfishly speaking, we Americans need aluminum. We dont have aluminum. Most of our aluminum comes from Canada, and we desperately need it." Later Monday evening, Trump also proposed on social media a plan to build a "desperately needed" aluminum plant in Enola, Oklahoma. He wrote, "The United States cannot get aluminum, and if it is not approved, this aluminum plant will be moved elsewhere." Trumps remarks come as the US-Canada trade dispute escalates, with Trumps 50% tariff on metals becoming a focal point of contention. More than half of the aluminum consumed annually in the US comes from Canada, and the US and Canada were close to reaching an agreement last week to halve the aluminum tariffs. However, the Trump administration faces opposition from the US steel and aluminum industries, which are urging the government to avoid making too many concessions to the Canadian market.Japanese Finance Minister Satsuki Katayama: We will strike a balance between fiscal sustainability and economic growth, and will communicate this position with the 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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