EUR/USD 1.17008
-0.109%
Gold 4697.57
0.188%
Oil 96.394
-0.597%
USD/JPY 157.939
0.039%
GBP/USD 1.35134
-0.071%
GBP/JPY 213.434
-0.030%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 14th, Lindsay James, investment strategist at UK wealth management firm Quilter, stated in a report that although UK first-quarter GDP growth exceeded expectations, this momentum may be unsustainable due to geopolitical pressures and domestic political tensions. Data shows that UK GDP grew by 0.6% in the first quarter, with only March showing a 0.3% increase, significantly better than the markets expected contraction of 0.2%. James stated, "A decent first-quarter figure may provide some buffer against the political situation, but higher energy costs and rising government bond yields point to a more challenging environment in the coming months."According to CNBC, US and EU lawmakers have pledged a European review of Paramounts deal with Warner Bros. Discovery Inc. (WBD.O).Emerging market stocks rose for the third consecutive trading day this week, with technology companies continuing their strong rally, supported by optimism about increased demand for AI-related hardware and services. The benchmark MSCI Emerging Markets Index rose 0.7%, bringing its monthly gain to over 7%. TSMC, Alibaba, and Samsung Electronics accounted for a combined 105% of the indexs gains, meaning that without their performance, the index would actually be down. Since early April, chipmakers have led the market rebound, with upwardly revised corporate earnings largely offsetting inflation concerns stemming from the Iran war. While the information technology sector rose 1.4% on Thursday, declines in sectors such as utilities, energy, and industrials highlighted a clear divergence between Asian technology stocks and other emerging market sectors.German government bonds continued to rise, with the 10-year yield falling 4 basis points to 3.06%.South Koreas Minister of Trade, Industry and Energy: If Samsung holds a strike, emergency arbitration will be unavoidable.

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

Aria Thomas

Jan 31, 2023 11:11

微信截图_20230131111203.png


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.


Suggestion