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As of 09:31 Beijing time, WTI crude oil futures rose 0.40%, and US natural gas futures rose 0.17%.On July 10th, Japanese Economy and Fiscal Policy Minister Minoru Jonouchi stated on Friday that the government would never pre-convey its preferences regarding how the central bank should set interest rates, thus mitigating market concerns about political interference in monetary policy. This followed a draft economic blueprint stating that "appropriately guiding monetary policy to achieve a stronger economy is very important," which exacerbated market concerns that the dovish government of Prime Minister Sanae Takaichi might pressure the Bank of Japan to postpone interest rate hikes. The draft also mentioned a legal provision requiring the Bank of Japan to align its policy decisions with the governments economic agenda, but did not mention another provision ensuring its legal independence from political interference. At a press conference, Jonouchi stated, "The governments specific monetary policy measures are determined by the Bank of Japan, and this position remains unchanged." He pointed out, "The government will never pre-convey its views to the Bank of Japan on matters such as the timing and magnitude of interest rate hikes, or the direction of monetary policy." However, he added that the government and the Bank of Japan "should obviously" share an understanding of the economic, price, and financial situation.Oil-themed funds opened lower, with the Global Oil and Gas Energy LOF falling more than 3%, the Harvest Crude Oil LOF falling more than 2%, and the E Fund Crude Oil LOF, Southern Crude Oil LOF, and Oil Fund LOF all falling more than 1%.The Peoples Bank of China (PBOC) announced today that it conducted 20 billion yuan of 7-day reverse repurchase operations, with a bid volume of 20 billion yuan and a winning bid volume of 20 billion yuan. The operation rate was 1.40%, unchanged from the previous rate.On July 10th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.1800%, and the lowest was 0.7080%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0060%, and the lowest was 0.9330%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0190%, and the lowest was 1.0020%.

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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