We know everything about bankruptcy
28/11/2024
Thursday
28 November 
1970 Norway voted against joining the European Union in a referendum.
1970 The American automatic station "Mariner-4" was launched to Mars.
1970 The oldest monastery in the capital, the Chudov Monastery, was founded in Moscow.
BANKRUPTCY OVERTOOK THE VOYAGER DIGITAL CRYPTO-LENDER
This decision was forced, since the search for alternative solutions to financial problems proved fruitless. If the company has at its disposal from 1 to 10 billion USD, debt obligations to 100,000 creditors amounted to approximately an equal amount.
It is worth noting that the bankruptcy application was filed in accordance with Part 11 of the Bankruptcy Code of the United States, which means the suspension of all court proceedings against the applicant to perform the actions necessary to restore solvency.
The crypto lender has suspended withdrawals, trading and deposits on its platform and said it is exploring strategic alternatives to preserve assets.
This happened after the company sent a notice of breach of obligations to the hedge fund Three Arrows Capital (3AC) in connection with the latter's failure to fulfill the necessary loan payments.
It is worth noting that many of the recent problems of the crypto industry can be traced to the example of the loud fall of the TerraUSD stablecoin in May. As a result, the stablecoin lost almost all of its value along with its paired token.
Cryptocurrency prices began to fall at the end of last year on expectations that the Fed would take a softer stance on the inflation outlook, and rising interest rates hurt the industry and its prospects.
Bitcoin, the largest and most well-known cryptocurrency, fell by 58% in the first six months of 2022, which is the worst indicator of the first half of the year in history.
