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Energy consultants say U.S. drivers could see gas prices rise to $4 a gallon this weekend.British Defense Secretary Healy: We have eight fighter jets in Qatar.On March 10, Russian President Vladimir Putin urged the countrys oil and gas producers to take advantage of soaring commodity prices to reduce debt, as the price surge is only temporary. Speaking at a meeting with government officials and energy company executives, Putin stated that oil production relying on the Strait of Hormuz, which is "effectively closed" due to the Middle East conflict, "could potentially come to a complete halt within a month." He added that restoring liquefied natural gas (LNG) production in the region would take "weeks or even a month," and that "it is impossible to quickly make up for lost production." Putin stated that Russia "must understand that the current high commodity prices are certainly only temporary" and should act accordingly. "The change in the supply and demand balance of hydrocarbons will inevitably bring about a new price stabilization. This is inevitable, therefore, Russian energy companies must seize the current opportunity, including using additional export revenue to reduce their debt burden on Russian banks."Market news: Iran loaded 2 million barrels of crude oil from the Jask export terminal, marking the first time crude oil shipments have bypassed the Strait of Hormuz since the escalation of the US-Iran conflict.On March 10, Ukrainian President Volodymyr Zelenskyy posted on his official social media platform that the priorities and full attention of Ukraines partner countries are currently focused on the situation in the Middle East, therefore the meeting originally scheduled for this week at the suggestion of the United States has been postponed. Zelenskyy stated that he held a meeting with the Ukrainian negotiating team that day and instructed them to communicate with the US negotiating representatives: firstly, to reaffirm Ukraines willingness to engage in strategic cooperation on security issues, particularly in the defense of drones; and secondly, to reaffirm Ukraines willingness to undertake substantive work to end the Russia-Ukraine conflict.

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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