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Futures Market Summary | Tuesday, September 1st, CCTV News Highlights: 1. Xi Jinping attends the 26th meeting of the Council of Heads of State of the Shanghai Cooperation Organisation (SCO) and delivers an important speech. 2. Xi Jinping attends the "SCO+" meeting and delivers an important speech. 3. CCTV Quick Commentary: Promoting Higher-Quality Development of the SCO. 4. Xi Jinping meets with the President of Russia. 5. Xi Jinping meets with the President of Uzbekistan. 6. Xi Jinping meets with the President of Mongolia. 7. Peng Liyuan attends the joint event for spouses of the SCO summit. 8. Xi Jinping successfully concludes his attendance at the 2026 SCO Summit and his state visit to Kyrgyzstan. 9. Xi Jinping publishes a signed article in Egyptian media. 10. Li Qiang meets with a delegation from the US-China Business Council. 11. Photovoltaic power generation capacity surpasses coal power for the first time to become my countrys largest power source. 12. Primary and secondary schools and kindergartens across the country welcome the new autumn semester. 13. Rescue and relief work for the mudslide disaster in Gyirong County, Tibet, continues with all-out efforts. 14. The 23rd China-ASEAN Expo will be held in Nanning, Guangxi, from September 17th to 21st. 15. The Publicity Department of the CPC Central Committee and other departments issued a notice on organizing the 2026 "National Defense Education Month" activities. 16. The 2026 "First Lesson of the New Semester" will be broadcast tonight on CCTV-1. 17. People from many countries positively appraised President Xi Jinpings important speech at the SCO Summit; international figures praised Chinas efforts to promote common development among all countries. 18. A special program on "Understanding Chinas Governance" was broadcast simultaneously on mainstream media in China and Kyrgyzstan. 19. Russia lodged a protest with the Japanese Embassy in Russia regarding its military exercise plan. 20. Iran stated that it will not tolerate the US using regional countries to invade Iran.According to RIA Novosti, the Russian Ministry of Defense stated that Russian troops struck a cargo ship in the port of Pivdenny.EU foreign policy chief: More than 10 EU countries are willing to provide support for the mission in Lebanon.Market news: Chevron (CVX.N) is close to reaching an agreement on two oil fields in the Orinoco heavy oil belt in Venezuela.On September 1st, US Treasury Secretary Bessenter, during a fireside chat at the G20 summit, pointed out that the US "3-3-3" plan in the energy sector targets crude oil equivalent. Since Trump took office, US daily oil production has increased by 1.6 million to 2.2 million barrels. He stated that risks must be mitigated, and the Strait of Hormuz will be "bypassed" within two years, rendering the strait "worthless waters," with oil transported via land pipelines instead of the Strait of Hormuz. Regarding Iran, he mentioned that 85%-90% of Iranian factories have the capacity to rebuild, and Iran may possess the worlds third-largest energy resources. Furthermore, the US is likely to announce bank sanctions this week and next, and has received strong support from the EU, the European Central Bank, the UK, the UAE, and Bahrain. The US has zero tolerance for Iran and will economically stifle its development. The US will also be monitoring aircraft leasing companies linked to Iran. Bessenter stated, "We know that funds stolen from the Iranian people through accounts in the British Virgin Islands can be returned to them, and Iranian funds can also be used to help victims of terrorism."

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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