We know everything about bankruptcy
16/05/2024
Thursday
16 May 
1970 The Russian poet Joseph Brodsky was ordered to leave the USSR.
1970 The Russian poet Joseph Brodsky was ordered to leave the USSR.
1970 The decision was made to begin the “cultural revolution” in China.
1970 The decision was made to begin the “cultural revolution” in China.
1970 The first film awards, which were later called the Oscars, were issued in Hollywood.
1970 The first film awards, which were later called the Oscars, were issued in Hollywood.
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.
