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Tag: Voyager Digital

September 9, 2022

Crypto Exchange KuCoin Or Would You Trust An CEO Posing As An Monkey On Social Media?

Established in 2017, KuCoin is one of the largest crypto exchanges worldwide, with more than 11 million customers. In an interview with Forbes in June 2022, its CEO Johnny Lyu said that they raised $20 million from IDG Capital and Matrix Partners. On Trustpilot, KuCoin has a Poor trust level with only 1.8 stars. Early Sept 2022, the Spanish regulator CNMV warned against the exchange. Its CEO presents himself as a sort of ape on social media. Would you really trust those guys? We wouldn't!

August 18, 2022

Troubled Crypto Broker Genesis Loses CEO And Fires 20% Of Its Workforce.

The New York-based digital asset brokerage and crypto lender Genesis Global Trading Inc. (www.genesistrading.com) announced that CEO Michael Moro is stepping down. Genesis COO Derar Islim will take over as interim CEO. Furthermore, WSJ reports that the company plans to fire 20% of its workforce. During the 2021 crypto bull run, the company's loan originations surged more than sevenfold to $131 billion, and the company increased its headcount by 22% to 260. A cut of 20% equates to the loss of about 52 jobs.

July 25, 2022

Fucked Clients – The Courtroom & Social Media Battler Around Collapsed Crypto Scheme Voyager!

On July 5, 2022, Voyager filed a proposed stand-alone Plan of Reorganization under Chapter 11 of the US Bankruptcy Code to reorganize the company and return to customers all of their funds. The day after the Voyager filing, one of Voyager’s competitors and largest stakeholders, Alameda Ventures Ltd. and FTX Trading Ltd (AlamedaFTX), controlled by Sam Bankman-Fried, issued a press release that allegedly openly disparaged Voyager with highly misleading statements. Voyager rejected the deal and thus triggered a courtroom and social media battle.

Crypto

July 21, 2022

Coinbase Shares Jump After Announcement Of Non-Exposure To Collapsed Crypto Schemes

Coinbase “had no financing exposure” to collapsed crypto schemes Celsius Network, Three Arrows Capital (3AC), and Voyager Digital, the company said in a blog post. Each firm filed for bankruptcy protection after the Terra-Luna implosion set off a cascade of liquidations in highly leveraged positions. Coinbase shares climbed more than 14% following the statement. The company’s stock has plunged roughly 70% since the start of 2022.

July 14, 2022

The Celsius Bankruptcy, Crypto Lending, And Regulatory Scrutiny!

The collapse of the crypto lenders Celsius Network and Voyager Digital and crypto hedge fund 3AC is alarming regulators worldwide. Recently, more and more regulators have announced investigations and actions. The California DFPI announced that it is investigating crypto lenders. The regulator warns consumers and investors that crypto lenders may not have adequately disclosed the risks customers face when they deposit crypto assets onto these platforms.

July 13, 2022

Crypto Lender Celsius Network Allegedly ‘Deeply Insolvent’!

The collapsed crypto lender Celsius Network “is deeply insolvent,” alleged the U.S. state of Vermont’s Department of Financial Regulation (DFR), noting that the lender lacks the assets and liquidity to honor its obligations to account holders and other creditors. DFR has joined a “multistate investigation” into the troubled crypto lender and issued a warning. Besides Three Arrows Capital (3AC) and Voyager Digital, Celsius is one of the big crypto schemes that imploded in the Crypto Winter environment.

July 7, 2022

The Crypto Winter Protocol – From Terra Via Three Arrows Capital To The Voyager Bankruptcy!

On July 6, 2022, crypto broker Voyager Digital filed for Chapter 11 Bankruptcy. With more than 3.5 million app users and over $5.9 billion in..

July 7, 2022

The Cypro Bankruptcy Wave Continues With Voyager Digital!

Following the Chapter 15 bankruptcy filing of collapsed crypto hedge fund Three Arrows Capital (3AC), one of its lenders, the public-listed crypto broker Voyager Digital filed for Chapter 11 bankruptcy in New York. According to a court filing, Voyager has claims of more than $650 million against 3AC. Voyager has approximately $1.3 billion of crypto assets and over $350 million in cash held at a For Benefit of Customers (FBO) account at Metropolitan Commercial Bank. The estimated number of creditors exceeds 100,000.

June 30, 2022

Crypto Debacle – Court Orders Liquidation Of Crypto Hedge Fund Three Arrows Capital!

A British Virgin Islands court ordered the liquidation of Three Arrows Capital Ltd (3AC). after creditors sued the crypto hedge fund for failure to repay debts, WSJ reports. Three Arrows Capital suffered losses in recent weeks due to collapsing crypto prices. Bitcoin’s dollar value has fallen by more than a third this month. Former Wall Street traders Zhu Su and Kyle Davies started the crypto hedge fund nearly a decade ago. It had roughly $3 billion in assets under management in April, just before crypto markets cratered.

June 26, 2022

Twitter Battle! Ethereum Founder Vitalik Buterin Bashes Crypto Hedge Fund Manager For $50M Superyacht!

Twitter continues to be the battleground of tech apostles like Elon Musk, Michael Saylor, or crypto pundit Vitalik Buterin. The latest battle aroused around Zhu Su (@zushu), CEO of struggling crypto hedge fund Three Arrows Capital (3AC), who allegedly purchased a superyacht for $50 million. The rumor was brought by @AutismCapital and @FatManTerra and later commented by Ethereum founder and mastermind Vitalik Buterin (@VitalikButerin). The depressed crypto environment only makes envy and ill will run high on Twitter as well.

Former Lebanon Central Bank Governor Riad Salameh Charged with Financial Crimes

It was a long-expected move. The powerful former Lebanon Central Bank Governor Riad Salameh has been arrested and charged with embezzling $42 million in public funds, part of a broader $110 million fraud case. His detention comes amid ongoing domestic and international investigations into financial misconduct during his controversial three-decade tenure. In 2022, the European Union Agency for Criminal Justice Cooperation (Eurojust) froze assets worth €120 million tied to Salame.

Prosecuted Telegram CEO Durov Challenges Personal Liability for Platform Misuse!

The prosecuted Telegram CEO Pavel Durov argues that holding CEOs personally liable for platform misuse is an outdated practice that threatens innovation. Following his Paris arrest, Durov emphasized that platforms like Telegram must adapt to rapid growth, but outdated liability standards should not stifle progress. His case highlights the ongoing debate about balancing innovation, privacy, and regulation in the tech world.

U.S. Regulator CFTC Lost Court Case Against Kalshi Legal Battle Over Election Bets!

KalshiEx is a U.S.-based prediction market platform that sought to offer trading in derivatives contracts based on the outcomes of Congressional elections, which the CFTC prohibited. KalshiEx challenged the regulator's decision in court and won, opening the door for election-based derivatives markets in the U.S. However, the CFTC is seeking a temporary stay.

Germany: Accomplices in Fraudulent Cyber Trading Platforms Charged by Karlsruhe Prosecutor!

The Baden-Württemberg Cybercrime Center in Germany has announced that it charged three suspects linked to an international fraud scheme that cost over 820 victims more than €5 million. The case marks a significant step in combating organized cyber trading fraud but underscores the growing complexity of such operations that often rely on an international division of labor.

Influencers

Influencers and Financial Crimes: A Short Guideline and a Request for Whistleblower Information!

Recently, the influencer industry has come under increased scrutiny from regulatory bodies worldwide. The case of Turkish influencers Dilan Polat and Engin Polat, facing $30 million money laundering charges and allegations of operating an illegal betting ring, perfectly demonstrates the potential legal risks in this sector. This high-profile case has prompted authorities to investigate hundreds of other influencers for potential financial crimes.