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According to the Russian Federal State Statistics Service, Russias automobile production is projected to fall by 11.8% year-on-year to 673,000 vehicles in 2025.The U.S. State Department confirmed that 14 shadow fleet vessels are owned by entities involved in transporting Iranian oil and other products. It also imposed sanctions on 15 entities and two individuals involved in the trade of Iranian crude oil, petroleum products, or petrochemicals.Ukraines Energy Minister: Ukraine is providing natural gas storage facilities for storing U.S. liquefied natural gas supplies.The Ukrainian Energy Minister spoke with U.S. Energy Secretary Wright to discuss the transportation of U.S. liquefied natural gas.February 6th - A survey shows that U.S. consumer confidence improved slightly in early February despite lingering concerns about the labor market and rising living costs. The University of Michigan Consumer Survey showed the consumer confidence index rose to 57.3 this month, up from a final reading of 56.4 in January. Joanne Hsu, the surveys director, stated, "While the current confidence index is the highest since August 2025, the increases in recent months have been limited, and historically, overall confidence levels remain very low. The erosion of personal finances by high prices and concerns about rising unemployment risks remain widespread." Consumers inflation expectations for the next year fell to 3.5% this month from 4.0% in January; while their inflation expectations for the next five years rose to 3.4% from 3.3% last month.

Crypto exchange FTX to acquire bankrupt Voyager’s assets

Cory Russell

Sep 28, 2022 14:50

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Crypto exchange FTX, whose rescue plan the insolvent institution had earlier this year been rejected, has acquired its assets in a $1.42 billion offer at an auction, according to Voyager Digital on Monday.


According to a statement from Voyager, the FTX offer consists of the fair market value of all Voyager cryptocurrencies at an unspecified future date, which is estimated to be over $1.31 billion at today's market pricing, plus an extra $111 million in additive value.


The business also said that the bankruptcy estate would continue to hold its claims against the hedge fund Three Arrows Capital and would distribute any available proceeds to the estate's creditors.


In June, Voyager sent a notice of default to the Singapore-based hedge firm for missing payments on a 15,250 bitcoin loan.


The business rejected an offer from FTX, the firm established by billionaire Sam Bankman-Fried, in July, calling it a "low-ball bid disguised up as a white knight rescue" that would obstruct its bankruptcy process.


Bankman-Fried has aggressively purchased the assets, technology, and customers of struggling crypto enterprises at low prices in an effort to support businesses in the precarious digital assets industry.


In addition to providing U.S. bitcoin lender BlockFi with a $250 million revolving credit facility in June and a contract granting FTX the ability to buy it depending on certain performance criteria, FTX disclosed in July a 7.6% investment in Robinhood Markets Inc.


During the COVID-19 epidemic, cryptocurrency lenders like Voyager had a surge in business, luring depositors with high interest rates and convenient access to loans that conventional banks seldom ever gave. The decline in the cryptocurrency markets has harmed investors and crypto firms, however.


In its Chapter 11 bankruptcy filing in July, Voyager estimated that company had between $1 billion and $10 billion in assets, as well as liabilities of a similar amount, and more than 100,000 creditors.

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