Tag: Voyager Digital

As reported recently by FinTelegram, the U.S. Securities and Exchange Commission (SEC) proposed a settlement with Do Kwon and his collapsed crypto scheme Terraform Labs. The judge has now approved this $4.5 billion settlement, marking one of the largest settlements in the crypto sector. This settlement follows a series of high-profile legal actions against various crypto firms, highlighting the ongoing efforts to clean up the sector after significant turmoil.

The U.S.Commodity Futures Trading Commission (CFTC) has filed a complaint against Stephen Ehrlich, the former CEO of the now-bankrupt entities Voyager Digital Ltd, Voyager Digital Holdings, Inc., and Voyager Digital, LLC. The complaint alleges that Ehrlich committed fraud and failed to register in relation to the Voyager digital asset platform and its operation of an unregistered commodity pool.

Do Kwon, the co-founder of the failed TerraUSD stablecoin, has been arrested in Montenegro after months of hiding, Montenegro Interior Minister Filip Adzic said on Twitter. The suspect was detained in the airport of the country’s capital of Podgorica with false documents. In September, South Korean authorities issued a warrant for Kwon’s arrest in September. The U.S. Justice Department is investigating the collapse of TerraUSD, WSJ reports.

The narrative of the sudden death of U.S. banks Silvergate, Silicon Valley Bank, and most recently Signature Bank sounds like a complicated conspiracy story written by John Grisham, Ken Follet, or John Le Carre. The main character is Sam Bankman-Fried (SBF). He allegedly intentionally triggered the collapse of the Terra-Luna stablecoin scheme in 2022 and, with it, the implosion of the worldwide crypto scene, which finally also swept the banking scene, forcing states and regulators to intervene.

Banking is becoming more difficult in the U.S. for crypto schemes. After Silvergate announced its voluntary liquidation, CoinDesk reported this morning that U.S. banking giant JPMorgan plans to end its banking relationship with crypto exchange Gemini owned by Winklevoss Twins, Cameron and Tyler. Back in early 2020, JPMorgan took on Gemini and Coinbase as customers. Gemini immediately denied the CoinDesk report on Twitter.

Despite SEC's vague objection, Binance.US cleared a major hurdle in its effort to acquire the assets of bankrupt crypto lender Voyager Digital in a deal worth $1.3 billion. U.S. Bankruptcy Judge Michael Wiles approved Voyager's restructuring plan, built around the Binance.US acquisition. Binance.US has agreed to pay $20 million in cash to Voyager and to take on crypto assets deposited by Voyager customers.

Over the past few weeks, the crypto segment has rebounded after a disastrous 2022, which saw the implosion of crypto prices due to the collapse of the large crypto schemes Luna/Terra, Three Arrows Capital (3AC), Celsius, Voyager, and FTX. The Bitcoin price has increased by about 50% from $15,800 to $23,800 since November 2022. Is this just a brief flare-up or the beginning of a new cycle? We asked ChatGPT about the prevailing analyst opinion and received the following response.

In 2008, the Bitcoin white paper was published by unknown individuals and implemented in its initial release in 2009. In this period, we also see the birth of the binary options industry. The infamous Banc de Binary was founded by Oran Laurent at the time and lasted until 2017 before it had to close due to legal and regulatory issues. As of 2017, Binary Options were banned in most regulatory regimes due to their susceptibility to fraud. After the crypto debacles of 2022, does the Bitcoin industry face a similar fate? Here are our thoughts on the matter.

After it was announced a few days ago that Sam Bankman-Fried's crypto exchange FTX has massive liquidity problems, the crypto scene was shocked. This was completely unexpected. Binance has canceled a briefly considered acquisition. Reportedly, up to $10 billion are missing. Now BlockFi, a crypto platform affiliated with the FTX group, has announced the suspension of withdrawals. BlockFi was impacted by the Terra-Luna collapse earlier this year and has been rescued by the FTX group.

Brett Harrison, the FTX US president and CEO of FTX US Derivates announced his resignation via Twitter shortly after it became known that FTX US won the bid for the assets of bankrupt crypto lender Voyager Digital. Over the next few months, he would transfer his responsibilities and move into an advisory role at the company. Zach Dexter has taken over his role and is already listed on the company's website beside Sam Bankman-Fried.

According to a CNBC report, Sam Bankman-Fried’s crypto conglomerate FTX talking to investors to raise up to $1 billion...

A court in South Korea issued an arrest warrant for the Terraform Labs founder Do Kwon. The warrant follows the collapse of the $40 billion Terra ecosystem and its algorithmic stablecoin (UST), which was the first domino to fall in this year's crypto winter. The warrant included five additional individuals, Bloomberg News reported. They are charged with violating the Capital Markets Act, the report said.