The company noted that its customers will have the possibility to use the Voyager app to begin requesting paybacks, which will take place in 30 days.
Bankrupt crypto lender Voyager Digital announced on Wednesday that its customers will recover about 35 percent of their initial deposit amid its liquidation plan. The AcquisitionApprovesAttemptsDigitalsfailedJudgeLiquidationMichaelPlanVoyagerWiles Read More
BTC climbed Tuesday afternoon as Google and Microsoft's first-quarter earnings surpassed expectations. Both equities and Treasury yields were down on Tuesday, however.
Source 28KBitcoinEarningsEncouragingLiquidationMildlyPositionsRegainsShortTech Read More
After FTX imploded, and as fear among market participants mounted about a full-blown insolvency crisis in crypto, lenders raced to recall outstanding loans to mitigate potential losses. With a significant chunk of funds locked up on FTX, Auros faced a sudden liquidity crunch to repayall its desperate creditors.
Source 17MAurosExitsFirmFTXVictimGlobalInvestmentLiquidationprovisionalTradingUnveils Read More
Traders using decentralized finance (DeFi) protocols to bet on a USDC revival over the weekend are at risk of eight-figure liquidations if the stablecoin loses its $1 peg again this week.
Source 70MdepegsFreshLiquidationOnChainPositionsRiskStablecoinUSDC Read More
Banks are the lifeblood of a nation’s economic system, and any bank collapse is disturbing. Last week saw two failures. On March 8, Silvergate Capital — the cryptocurrency-focused banking company — entered into voluntary liquidation. On March 10, United States regulators shut down and seized the deposits of tech-oriented Silicon Valley BitcoinCryptocryptoexchangeDamageEscapeExchangesindustrylastingLiquidationSilvergate Read More
At 4:30 p.m. Eastern Time, Silvergate Bank announced its intention to wind down the crypto-friendly bank’s operations and voluntarily liquidate the company’s assets. The news follows significant financial troubles the bank faced, and the firm’s stock plummeted in value.
Details of Silvergate’s Wind Down and Liquidation Plan
Over the last six months, AnnouncesBankBitcoinCryptocryptoexchangeExchangesindustryLiquidationNewsPersistSilvergateVoluntaryWoes Read More
In a statement, Senate Banking Committee Chairman Sherrod Brown (D-Ohio) said, "As the impact of FTX’s collapse continues to ripple outward, today we are seeing what can happen when a bank is overreliant on a risky, volatile sector like cryptocurrencies. I’ve been concerned that when banks get involved with crypto, AnnouncesBankCryptoLiquidationSilvergateVoluntary Read More
The founders of the troubled cryptocurrency lender Hodlnaut are trying to save the business despite creditors insisting on its liquidation.On Feb. 28, Hodlnaut’s interim judicial managers released the sixth affidavit of Hodlnaut co-founder Simon Lee reportedly stating the company’s founders proposed selling the business as a better option for creditors BitcoincryptoexchangeExchangesFirmFoundersHodlnautLiquidationProposeSelling Read More
The proposed restructuring plan would have allowed Hodlnaut directors who were at the helm during its collapse to continue managing the company. Liquidation would "maximize the company's remaining assets available for distribution," one of the creditors, Algorand Foundation, wrote in the filing.
Source BloombergCreditorsHodlnautLiquidationPlanRejectRestructuringSeek Read More
Crypto bank Silvergate had to undertake a 200-employee layoff and take other drastic measures to facilitate a withdrawal bank run. During the FTX-triggered crypto meltdown, Silvergate Bank scrambled to cover a massive withdrawal spate and also embarked on a substantial staff layoff. According to the Wall Street Journal, the crypto-focused bank offloaded assets at a AssetCryptoFTXTriggeredLayoffLiquidationMeltdownResortedSilvergateStaffsurvive Read More