The lending firm said clients with U.S. dollars in their accounts could withdraw up to $100,000 in a 24-hour period, with the funds received in 5–10 business days. Crypto lender Voyager Digital Holdings has reported users may be able to make cash withdrawals from the app more than a month after suspending trading, deposits, withdrawals…
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The Asian cryptocurrency exchange was impacted by the Celsius and Babel Finance defaults but is working with investors to resolve the situation. Crypto exchange Zipmex, which operates in Thailand, Indonesia, Singapore and Australia, released a statement this week denying reports that it has filed for bankruptcy and announcing its progress in resuming withdrawals from its…
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FTX is proposing to buy out all Voyager Digital digital assets and digital asset loans, except loans to Three Arrows Capital, which would remain Voyager Digital’s problem. FTX and Alameda Ventures want to offer Voyager Digital customers a chance to start a new FTX account with an opening cash balance funded by an early distribution…
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This week the two co-founders of the embattled cryptocurrency hedge fund Three Arrows Capital spoke to Bloomberg about their fund crumbling at the seams. The co-founders Su Zhu and Kyle Davies did not disclose their whereabouts, but a lawyer who monitored the interview noted the duo is located in the United Arab Emirates. Zhu said…
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The creditors of Three Arrows Capital may be left holding the bag, according to a source who claims the hedge fund’s exposure to Deribit is only worth $25 million. Court documents that describe the insolvency of failed crypto hedge fund Three Arrows Capital, also known as 3AC, may be overestimating the value of the firm’s…
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Ever since Celsius paused withdrawals on June 12, the company has been the focus of attention due to the lender’s financial hardships. A month later, Celsius filed for bankruptcy in the U.S. by leveraging the Chapter 11 process. Two days after the bankruptcy filing, a report disclosed that two people familiar with the matter allege…
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Liquidators don’t know the whereabouts of Kyle Davies and Su Zhu. Meanwhile, Grayscale’s legal officer says the asset manager’s lawsuit against the SEC could take a while to play out. In the world of crypto, there’s no such thing as “too big to fail.” Three Arrows Capital, once the most recognizable hedge fund in the…
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During the last 30 days, the Celsius Network’s native token CEL increased in value by over 140% against the U.S. dollar. On July 13, just before the lending company filed for Chapter 11 bankruptcy, CEL was exchanging hands for $0.961 per unit. Following the news that the company filed for bankruptcy protection, the native crypto…
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As the search for an elusive Bitcoin bottom continues, at least one United States miner was forced to liquidate a portion of its holdings in June. Those of us anxiously awaiting a summer relief rally for Bitcoin (BTC) may have to wait a little while longer. The bear market is still cleansing us of our…
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Some Voyager Digital customers did not understand the scope of FDIC protection for their deposits, leading to questions about the firm’s marketing. Some Voyager Digital account holders were surprised when they discovered that their deposits did not have the protection they thought they did after the crypto brokerage and lender filed for bankruptcy Tuesday. This…
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