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February 23 – The 9th Congress of the Workers Party of Korea continued on February 22. The meeting discussed and revised the Workers Party Constitution and elected members of the Central Leadership. The Congress expressed its full support for and endorsement of the proposal to re-elect Kim Jong Un to the highest position in the Workers Party of Korea, and elected him as General Secretary of the Workers Party of Korea. The meeting also elected members and alternate members of the Central Committee of the Workers Party of Korea. Kim Jong Un, Pak Thae Song, Jo Yong Won, Ri Il Hwan, and 139 others were elected as members of the Central Committee of the Workers Party of Korea.February 23 - Analysts say that as skepticism surrounding artificial intelligence grows, Wall Street is increasingly worried that the chip giants earnings this week will drag down its stock price. Nvidias stock has been trading sideways for months, rising only 1.7% since the beginning of the fourth quarter of last year, slightly below the S&P 500s 3.3% gain over the same period. Nvidias recent lackluster performance is largely due to increased investor concerns about spending hundreds of billions of dollars on AI development, leading to capital outflows from large-cap tech stocks. However, the stock market also faces numerous external risks, including geopolitical instability and reduced expectations of interest rate cuts. All of this puts Nvidia in a delicate position when it releases its fourth-quarter and fiscal year results on Wednesday. Investors expect its results to far exceed Wall Street expectations and raise forecasts for the coming quarters. But the company may have little to do or say to drive a meaningful rise in its stock price. Nvidias stock price has fallen after its last two earnings releases.February 23 - On February 22, local time, Greenlands Prime Minister Jens-Frederic Nielsen stated on social media that Greenland has no intention of accepting a hospital ship that US President Trump planned to send to the island. Nielsen posted on Facebook that day, "The answer here is: No, thank you." He stated that Greenlanders enjoy free healthcare, a system that is a "basic component" of local society, "unlike the United States, where you have to pay for medical care."February 23 – The Iranian Foreign Ministry stated that its foreign minister and Iraqi foreign minister held a telephone conversation on Sunday evening. During the call, they reviewed and discussed the latest regional and international situation. The Iranian foreign minister briefed Iraq on the progress of the Iran-US nuclear negotiations. The Iraqi foreign minister emphasized Iraqs support for the ongoing diplomatic process and expressed hope that the ongoing talks would yield favorable results for Iran and bring peace and stability to the region.On February 23, local time, European Parliament International Trade Committee Chairman Alain Lange announced via social media that he would propose a suspension of the European Parliaments ratification of the EU-US trade agreement due to the "chaos" caused by the US Supreme Courts ruling that the US governments massive tariff policies were illegal. Lange stated that clear stipulations and legal certainty are needed before any further measures can be taken, and he will formally propose on the 23rd that the European Parliament temporarily freeze the ratification process of the trade agreement with the US until a proper legal assessment and clear commitment from the US are obtained. The EU-US trade agreement was reached last July, with the US imposing a 15% tariff on EU goods imported into the US.

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.