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The National Bank of Kazakhstan reported that Kazakhstans gold and foreign exchange reserves totaled $59.983 billion in November, a 3.4% increase month-on-month.On December 9th, Reserve Bank of Australia (RBA) Governor Bullock emphasized at a press conference that inflation risks are skewed to the upside, noting that inflation and employment data will be crucial for the February meeting. Regarding this meeting, Bullock stated that the possibility of a rate hike or a rate cut has not been explicitly considered, but the possibility of tightening policy has been discussed. However, Bullock said that if inflation remains persistently high, the RBA may need to consider raising interest rates. Regarding future interest rate trends, Bullock expressed a data-driven approach, making decisions at each meeting. Bullock said, "We will not make predictions about the timeline for future actions; we will decide at each meeting."Reserve Bank of Australia Governor Bullock: The committee will take all necessary measures to reduce inflation.Reserve Bank of Australia Governor Bullock: Its inappropriate to react based on a single data point. The committees focus is now more on inflation, and they are wary that if inflation remains high, they may have to take measures.Reserve Bank of Australia Governor Bullock: This is a difficult situation. Our current position is broadly balanced, perhaps somewhat tightening, with financial conditions possibly neutral or slightly tight, and we must be very cautious.

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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