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NIO (09866.HK) saw its losses widen to 5% in the afternoon.On May 30, Bank of England member Taylor downplayed stronger-than-expected inflation and growth data in an interview, and again called for a rate cut in the face of growing pressure on the British economy. Taylor told the Financial Times that the current surge in inflation was driven by one-off factors. He stressed that the uncertainty caused by US President Trumps trade war has dragged down economic growth. Taylor added that although there have been some "welcome" progress in trade, including the UKs restart agreement with the EU, these developments have only affected a small part of the UKs trade. When asked if he would support a rate cut at the next meeting in June, Taylor said: "I wont preemptively announce my vote, but I think I have indicated in my dissenting opinion that I think we need to take a more accommodative (monetary) policy path." Taylor voted for a 50 basis point rate cut this month. He said: "I think the risks to the downside outlook are increasing due to the development of the global situation." He added that the impact of Trumps tariffs on imports will "accumulate over the rest of the year, leading to trade diversion and dragging down economic growth."Futures News, May 30, Economies.com analysts latest views today: Spot gold prices have fallen back, which is a corrective move aimed at accumulating the gains of the previous rising wave and trying to eliminate the obvious overbought state on the (RSI), especially in the early stages of negative overlapping signals on it, which may temporarily limit the upward momentum.Futures May 30 news, Economies.com analysts latest view today: WTI crude oil futures prices have fallen, and continue to be under negative pressure from its trading below EMA50, ready to break through the key support level of $60.00. This level has shown strong stability in previous attempts.Japans new housing starts in April were -26.63% year-on-year, in line with expectations of -18.3% and the previous value of 39.10%.

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.