Crypto News: Potentially Good News for Voyager Customers — Or At Least, Not as Bad as Feared

Some potentially good news for Voyager customers — or at least, not as bad as feared. A new court filing suggests they'll get 72% of their savings back if FTX's acquisition is approved. This figure could also increase if ongoing efforts to recover funds from Three Arrows Capital succeed. Voyager crashed into bankruptcy after 3AC defaulted on a $660 million loan, with withdrawals abruptly suspended. Last month, FTX successfully bid $1.4 billion for the stricken firm's assets. A judge now says Voyager has the ability to abandon this deal if it ends up receiving a higher offer. But to complicate matters, the sale cannot be finalized until Voyager's bankruptcy payout plan has been approved — and that may not happen until December.

A group of investors who lost everything when LUNA and UST collapsed are trying to track down Do Kwon. The UST Restitution Group believes he's in Dubai — and plan to travel there. Speaking to the FT, one member said "there's a 50/50 chance of getting him." The newspaper claims this group has 4,400 members who "comb through the internet for clues on his whereabouts." It's also been suggested he could be in Azerbaijan, Russia, Mauritius or the Seychelles. On Discord, one said Kwon's days "are numbered." This could explain why Do Kwon is keeping quiet about his current location. Laura Shin, who interviewed him this week, said: "I'm sorry, people, but this is totally not cool. What do they plan to do when they find him? WTF."

It may be "a matter of time" before Bitcoin starts outperforming most asset classes once again, according to Bloomberg Intelligence. McGlone says BTC is showing signs of bottoming out after managing to stay above $19,000 despite the headwinds facing the global economy. Overall, McGlone believes that Bitcoin "may be in the early days of shifting to trade more like bonds and gold" — rather than being correlated to stocks. He added: "Bitcoin's definable diminishing supply is unprecedented on a global scale, and so prices should continue to rise over time unless something unlikely happens to reverse demand and adoption trends." A Finder panel of 55 experts has projected BTC will be worth $21,344 by the end of 2022 — and $79,193 by 2025.

Months after he was exposed in embarrassing, secretly recorded videos, Kyle Roche has left his law firm. Roche Freedman will now be known as Freedman Normand Friedland. Over the summer, Crypto Leaks claimed the law firm and Ava Labs were involved in "an extraordinary secret pact that harms the crypto industry." In covert clips, Roche bragged that he sues "half the companies in the industry." He said the footage had been taken out of context, but still withdrew from a number of class action lawsuits. It wasn't enough — and Roche Freedman was later ejected from a market manipulation suit against Bitfinex and Tether. In a statement, the company said: "We wish Kyle the best in his future endeavors."

Unstoppable Domains has stopped offering .coin domains after a rather unfortunate (and comedic) error. The company — best known for offering .crypto and .nft extensions — had failed to realize that a rival had begun offering .coin domains all the way back in 2014. In a new blog post, it admitted the decision to discontinue this product had been "painful," and vowed to make consumers whole. Unstoppable added: "Naming collisions are dangerous for the Unstoppable community and for Web3 as a whole. Multiple versions of a top-level domain could cause chaos. Imagine sending Bitcoin to the wrong nora.nft, or connecting your wallet to uniswap.crypto and getting a scammer’s website instead of the real one."

The Brazilian footballing legend Ronaldinho is being criticized after he announced that he was joining a crypto project. In an announcement to his 21 million followers on Twitter, the 42-year-old said he was "delighted to be part of the World Cup Inu family." Ronaldinho's tweet — which probably wasn't written by him — was filled with much of the empty language you often encounter from low-cap altcoin projects. CoinMarketCap data shows that World Cup Inu rallied after Ronaldinho's tweet went live — surging by 38% in just 15 minutes. A little over 12 hours later, it's now wiped out these gains. Some critics are questioning this altcoin's tokenomics, while others claim Ronaldinho may be in trouble because he didn't use the #ad hashtag.

A former executive at bankrupt Celsius Network has well and truly landed on his feet — securing a new role in the most unexpected of places. Aaron Iovine, who served as head of policy for the doomed crypto lender, has now assumed a similar position at JPMorgan Chase. The appointment is all the more surreal considering JPMorgan's CEO, Jamie Dimon, recently told politicians that cryptocurrencies are nothing more than "decentralized Ponzi schemes." Given Dimon's long-running and visceral hatred for cryptocurrencies, you might be wondering why JPMorgan is even hiring crypto specialists at all. But as a recent LinkedIn vacancy shows, Iovine isn't the only person being recruited from this nascent sector — it's hunting for highly skilled lawyers, too.