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On November 27th, Guanglian Aviation released its investor relations activity record, highlighting gas turbines as a key new growth driver for the company. Leveraging its technological accumulation in structural component manufacturing and composite material applications, the company has rapidly entered the gas turbine market, achieving a breakthrough across the entire process from rough machining to complete assembly of the gas turbine casing. It can provide integrated solutions from structural design and material selection to assembly and testing. Its products are mainly used in scenarios such as pressurization of oil and gas transportation pipelines, with high value per casing and significant technological barriers. Strategically, the company is targeting the commercial aerospace market, entering core segments of the industry through a dual approach of acquisitions and collaborations. On one hand, it actively connects with commercial aerospace companies, undertaking production tasks for core components such as launch vehicle tanks to seize incremental market share. Simultaneously, it leverages cooperation with professional research institutes and universities in the aerospace field to build a dual-dimensional business matrix of "rocket + satellite," laying the foundation for the companys business development in the commercial aerospace sector.Angolas final plan shows that it will cut oil exports to 966,000 barrels per day in January.British Chancellor of the Exchequer Reeves and the Science Secretary will hold a roundtable meeting with telecommunications industry executives.On November 27th, Russian President Vladimir Putin stated on Thursday that the outline of the draft peace plan discussed between the United States and Ukraine could form the basis for a future agreement to end the conflict in Ukraine, but if not, Russia will continue fighting. Putin said, "Generally speaking, we agree that this can serve as the basis for a future agreement." He added that the version of the plan discussed by the US and Ukraine in Geneva has been submitted to Russia. Putin stated that the US is considering Russias position, but some issues still need to be discussed. He also stated that Russia is willing to provide guarantees of non-aggression if Europe desires them. "The fighting will only stop when the Ukrainian army withdraws from the areas they occupy. If they do not withdraw, we will force them to withdraw. Thats it." Putin also stated that the Russian army is accelerating its advance in Ukraine. Meanwhile, Putin stated that he believes the Ukrainian leadership is illegitimate, therefore a legally improbable agreement with Ukraine is impossible, and any agreement must be recognized by the international community, which must acknowledge Russias achievements in Ukraine. Putin also refuted claims that US Special Envoy Witkov showed favoritism towards Moscow in the Ukrainian peace negotiations, calling them nonsense.The commander-in-chief of the Ukrainian army stated that Russia had to deploy reserves during its operations in Pokrovsk.

FTX Sues Voyager Digital to recover $446 Million in Debt Payments Due in 2022

Aria Thomas

Jan 31, 2023 11:11

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Bankrupt crypt exchange FTX filed a lawsuit against cryptocurrency lender Voyager Digital on Monday, seeking to recover $445.8 million in loan repayments made by FTX before its bankruptcy filing in November 2022.


FTX and Voyager both filed for bankruptcy in 2022 in response to the collapse of cryptocurrency markets, however Voyager's petition came four months before FTX.


Voyager sought repayment of all outstanding loans to FTX and its affiliated hedge fund Alameda Research after filing for bankruptcy in July.


FTX stated in a court filing that it paid Voyager $248.8 million in September and $193.9 million in October on behalf of Alameda. In August, FTX also made a $3.2 million interest payment, according to court documents.


According to FTX's complaint, because these loan payments were made so close to FTX's own bankruptcy filing, they are eligible to be recouped and perhaps used to reimburse other FTX creditors.


FTX, previously one of the leading cryptocurrency exchanges in the world, shocked the industry in November by declaring bankruptcy, leaving an estimated 9 million customers and other investors with losses in the billions of dollars.


Its inventor, Sam Bankman-Fried, has been indicted on fraud charges, and numerous top executives, including CEO Caroline Ellison of Alameda Research, have pleaded guilty to fraud. The trial of Bankman-Fried, who has denied wrongdoing, is slated for October.


Initially, FTX appeared capable of weathering the storm that brought down Voyager and other crypto corporations in the summer of 2022, touting itself as a "white knight" who could steady the tumbling crypto markets. FTX sought to acquire Voyager's platform in a bankruptcy auction, but the deal fell through when FTX collapsed in November.


FTX acknowledged in a court statement on Monday that Alameda allegedly seized FTX client assets to support its imprudent borrowing and lending. However, it was stated that Voyager and other crypto lenders were implicated in Alameda's behavior by "knowingly or negligently" directing their clients' money into Alameda.


FTX stated that Voyager's business model was that of a feeder fund. It sought individual investors and placed their money in bitcoin investment funds such as Alameda and Three Arrows Capital with little or no due research.


Three Arrows Capital also declared bankruptcy in 2022, and its founders have refused to comply with court-appointed liquidators who are attempting to reclaim customer assets.


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