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Voyager app set to reopen for customer withdrawals

Voyager Digital is preparing to reopen its app and allow customers to finally withdraw their funds nearly one year after it filed for Chapter 11 bankruptcy.

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Voyager Digital is preparing to reopen its app and allow customers to finally withdraw their funds nearly one year after it filed for Chapter 11 bankruptcy.

Voyager’s bankruptcy plan administrator Paul Hage said in a June 14 court filing that around June 15 the Voyager app would be updated to show the amount available for withdrawal, and estimated that the withdrawal period would start somewhere between June 20 and July 5.

The bankruptcy plan was first approved in court on May 17 and will result in customers initially receiving 35.72% of their claims by withdrawing crypto through the Voyager app or in cash after 30 days.

Within the filing, Hage also noted that bankrupt crypto hedge fund Three Arrows Capital still owes Voyager $650 million, so while this first tranche of withdrawals allows for just over 35% of customer funds to be withdrawn, “the primary focus will shift to recovering additional assets that can be distributed to creditors” once the initial distribution is completed.

Additionally, an extra $445 million of customer funds could also be made available to creditors pending a final resolution of Alameda Research’s preference claim against Voyager, which is not expected to happen until at least mid-September 2023.

After originally filing for bankruptcy on July 5, Voyager submitted two prior bankruptcy plan proposals, but both have fallen through.

The first of these was to the United States arm of FTX, FTX US, but the $1.4 billion deal fell through after FTX filed for bankruptcy.

Subsequently a $1 billion deal with Binance.US also fell through after it backed out on April 25, citing a “hostile and uncertain regulatory climate in the United States.”

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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