Voyager Digital Files For Bankruptcy
Voyager Digital, a cryptocurrency broker, filed for bankruptcy in New York. At the time of filing, Voyager had more than 100,000 creditors and liabilities of up to $10 billion. Voyager is a publicly listed company. Its stock price fell more than 11% as the news broke out.
“We strongly believe in the future of the industry, but the prolonged volatility in the crypto markets, and the default of Three Arrows Capital, require us to take this decisive action,” said Stephen Ehrlich, the CEO of Voyager, on Twitter.
Voyager revealed last month that it had over $600 million exposure to 3AC, a cryptocurrency firm that filed for bankruptcy earlier this month. The company has temporarily paused withdrawals and trading on its platform. “Customers with crypto in their account(s) will receive in exchange a combination of the crypto in their account(s), proceeds from the 3AC recovery, common shares in the newly reorganized Company, and Voyager tokens,” said Ehrlich.
Elon Musk’s Boring Company Accepts DOGE
The Boring Company, an American tunnel construction company founded by Elon Musk, will start accepting dogecoin for its services. The announcement came the opening of a new Loop station in Las Vegas. Loop services is a public transport system that conveys passengers in Tesla vehicles without intermediate stops.
Loop services are currently free, but plans to charge passengers are in the pipeline. When the payment for Loop services commences, passengers will be charged $1.50 for single rides and $2.50 for day passes. The Boring Company joins Tesla and SpaceX in accepting dogecoin as a means of payment.
Earlier this year, Elon Musk, the tech billionaire, announced on Twitter that he still supports and is buying up dogecoin. Dogecoin is a meme cryptocurrency created by Billy Markus and Jackson Palmer as a joke.
Binance Cuts Bitcoin Trading Fees
Binance, the leading cryptocurrency exchange, announced that it cut bitcoin trading fees to $0 globally to celebrate its 5th anniversary. The zero fees for trading bitcoin will commence on Friday, the 8th of July.
“In line with our user-first philosophy, Binance has always strived to provide the most competitive fees in the industry. At its core, Binance is an inclusive platform with accessibility in mind. Eliminating the trading fees on selected BTC spot trading pairs is another move towards that direction,” said CZ (Changpeng Zhao), the Founder and CEO of Binance.
Written by Lindi Miti © Crypto University 2022