Bitcoin News and Finance

IMF Economist Warns of Side Effects From Sharp Monetary Policy Tightening — Says Financial Risks Have Increased

The International Monetary Fund’s (IMF) economic counselor has warned of the side effects of sharp monetary tightening. Noting that “Inflation is much stickier than anticipated,” he stressed that “financial risks have risen.” IMF Economist’s Warning Pierre-Olivier Gourinchas, Economic Counsellor and the Director of Research of the International Monetary Fund (IMF), shared his global economic outlook in a blog post published by the IMF Tuesday. “The economic slowdown is most pronounced in advanced economies. Inflation is falling more slowly than anticipated,” he wrote. “Recent banking instability reminds us, however, that the situation remains fragile. Once again, downside risks dominate and the fog around the world economic outlook has thickened.” He added: Inflation is much stickier than anticipated, even a few months ago … Core inflation, which excludes energy and food, has not yet peaked in many countries. The IMF economist noted that “activity shows signs of resilience as l...

Voyager Digitals Bankruptcy Battle Racks Up Millions in Legal Expenses

A recent court filing from the now-insolvent Voyager Digital Holdings and its creditor committee revealed that legal expenses amounting to $16.5 million have accumulated from July 22, 2022, through May 18, 2023. The records indicate that between March and May 2023, roughly $5.17 million in legal fees were billed to the estate. Lawyers and Restructuring Officers Are Profiting From the Slew of Crypto Bankruptcy Cases Lawyers for Voyager’s creditor committee unveiled the legal costs concerning the company’s ongoing bankruptcy proceedings, which began in July 2022, on July 3, 2023. According to the filing, the third interim fee period (March-May 2023) has a compensation request of $5.17 million. The document states that this is the final provisional fee application invoiced by the law firm McDermott Will & Emery LLP. Furthermore, the filing asserts that the court granted the interim compensation order on August 4, 2022. The attorneys explain that Voyager’s Chapter 11 case was “the...

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IMF Economist Warns of Side Effects From Sharp Monetary Policy Tightening — Says Financial Risks Have Increased

Voyager Digitals Bankruptcy Battle Racks Up Millions in Legal Expenses