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World Gold Council: Gold ETFs and over-the-counter (OTC) investments will benefit from the macroeconomic winds in 2025, and central banks will continue to maintain (gold purchase) policies. Although demand for gold bars and coins is strong, it may slow down in some major markets, and continued strong gold prices may further erode jewelry consumption. Supply may see annual growth, while supporting conditions for scrap metal recycling and mineral production.1. The trading volume of WTI crude oil futures was 1,314,987 lots, a decrease of 154,512 lots from the previous trading day. The open interest was 1,764,284 lots, a decrease of 16,273 lots from the previous trading day. 2. The trading volume of Brent crude oil futures was 199,904 lots, a decrease of 25,003 lots from the previous trading day. The open interest was 162,488 lots, a decrease of 11,811 lots from the previous trading day. 3. The trading volume of natural gas futures was 493,509 lots, a decrease of 264,236 lots from the previous trading day. The open interest was 1,560,504 lots, a decrease of 11,626 lots from the previous trading day.On February 5, the World Gold Council said in a new report on gold demand trends that total gold demand in 2024 increased by 1% year-on-year to an all-time high of 4,974.5 tons. Driven by record prices brought about by geopolitical and economic uncertainty and investors search for safe-haven assets, the value of this demand soared to $382 billion. Gold demand reached a record $111 billion in the fourth quarter. Louis Street, senior market analyst at the World Gold Council, said: "Geopolitical uncertainty remains high, which will always be a factor supporting investment in gold, whether it is shifting from concerns about military conflict to uncertainty in trade conflicts." The report said that geopolitical and economic uncertainty will remain high in 2025, and it seems very likely that central banks will once again use gold as a stable strategic asset.World Gold Council: Total gold supply to 2024 grows at 1% per year as both ore supply and recycling grow. Preliminary estimates show that ore production peaked at 4,974 tonnes in our data series.World Gold Council: Gold jewelry consumption fell 11%, hit by record high prices. On the other hand, demand soared to a record $144 billion.

What the Voyager Digital Bankruptcy Means for Your Cash and Crypto

Skylar Shaw

Jul 12, 2022 14:43

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After publishing an update on the assets kept by users on its platform, Voyager (OTCMKTS:VYGVF) is once again in the news. This is the most recent development in the tale since Voyager Digital filed for bankruptcy on July 6.


Since Voyager stopped all withdrawals, deposits, and incentives on July 1st, users have been living in a world of uncertainty. The collapse of the cryptocurrency hedge fund Three Arrows Capital was cited as the reason for the crypto lender's decision to file for Chapter 11 bankruptcy (3AC). Before 3AC disclosed its insolvency, Voyager had financed it $650 million.


If the Federal Deposit Insurance Corporation (FDIC) is backing the US dollars (USD) on the platform is another contentious issue (FDIC). The FDIC is now investigating Voyager's client outreach for deposit insurance.


However, based on the most recent business update, it seems that Voyager clients will be able to receive their USD back. Now let's discuss the specifics.

What Your Cash and Crypto Means After the Voyager Digital Bankruptcy

According to the update, Voyager maintains USD in a Metropolitan Bank For Benefit of Customers (FBO) account (NYSE:MCB). The USD balance in each customer's account is the same as the USD balance Voyager has in its FBO account. Customers' USD will thus be available following "a reconciliation and fraud prevention procedure" and is FDIC-insured. Voyager stressed:


"To be clear: Voyager does not handle client cash; that cash is housed at MCB. FDIC insurance does not protect against the demise of Voyager."


The platform's crypto assets are a separate matter, even if it seems that the FDIC covers Voyager's USD. Currently, Voyager has around $1.3 billion worth of cryptocurrency holdings. Customers will be compensated for their current holdings under the parameters of the Chapter 11 restructuring plan with a mix of cryptocurrency and stock. Customers may choose how much common stock and cryptocurrency they want to get.


Voyager tokens and the remaining cryptocurrency were returned. Customers will furthermore get common shares in the newly reformed firm and money recovered from 3AC. Voyager points out that the suggested approach might yet alter.


Voyager is now seeking further strategic options. The potential of a "third-party investment or sale" was also acknowledged by the corporation.

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