Bankrupt cryptocurrency lender Voyager digital has gained permission to initiate the reimbursement process for its creditors, marking a significant turn of events in the firm's bankruptcy saga after a ruling by the U.S. Bankruptcy Court for the Southern District of New York.

Pakistan’s government is intensifying its resistance to digital assets, even as local retailers seek to safeguard their financial investments amidst a depreciating Pakistani rupee — a repercussion of the country's unpredictable political climate.

Nasdaq-listed cryptocurrency exchange Coinbase has announced new updates to its premium zero-fee subscription service, Coinbase One, as it took out of beta testing and expanded it outside of the U.S. to include the U.K., Germany, and Ireland.

Top stories in the Crypto Roundup today:

• Voyager Digital to Repay $1.33 Billion to Creditors After Court Approval
• Pakistan Moves to Ban Crypto as Adoption Grows
• Coinbase One Opens Zero-Fee Subscription Service
• Crypto Market Movers – RNDR, RAD, KAVA

Voyager Digital to Repay $1.33 Billion to Creditors After Court Approval

Bankrupt cryptocurrency lender Voyager Digital has gained permission to initiate the reimbursement process for its creditors, marking a significant turn of events in the firm's bankruptcy saga after a ruling by the U.S. Bankruptcy Court for the Southern District of New York.

Judge Michael Wiles has greenlit Voyager's liquidation strategy, paving the way for the firm to repay approximately $1.33 billion in digital assets to its customers. Voyager’s Official Committee of Unsecured Creditors said it’s now working with Voyager to go “effective under the plan as soon as possible (as early as this Friday).”

The Committee will dissolve following the enactment of the liquidation plan, aiming for June 1 as the final date for the initial disbursement of funds.

Voyager's third bankruptcy plan came into being on May 5, subsequent to Binance.US's decision to withdraw from its agreement with the lender. Information from Voyager’s website shows its estate is in possession of $1.334 billion in assets, which equates to 75.68% of the aggregate value of customer claims.

Over “certain holdbacks” customers are to anticipate an initial payment of 35.72% of their claims. Further distributions depend on the result of future litigations that revolve around the “FTX/Alameda preference claim dispute, the success of any additional claims brought by the Voyager Plan Administrator against third parties, as well as any recovery by the Voyager estate as a creditor in the Three Arrows Capital liquidation.”

Under Judge Wiles' mandate, Voyager affirmed that preliminary payments would be made either in cryptocurrency via the Voyager app, or in cash following a 30-day waiting period.

Pakistan Moves to Ban Crypto as Adoption Grows

Pakistan’s government is intensifying its resistance to digital assets, even as local retailers seek to safeguard their financial investments amidst a depreciating Pakistani rupee — a repercussion of the country's unpredictable political climate.

The country’s Minister of State for Finance and Revenue, Aisha Ghaus Pasha, has told the Senate Standing Committee on Finance that cryptocurrencies will “never be legalized in Pakistan.”

According to the minister the international finance watchdog, the Financial Action Task Force (FATF), has set a precondition that cryptocurrencies must not be legalized to avoid inclusion in the organization's "Grey List," as noted by one local news outlet.

Another outlet reported that Pakistan's staunch stance against digital currencies is aligned with the FATF's stipulations. Pasha reportedly directed the country's central bank, the State Bank of Pakistan (SBP), and the Information Technology Ministry to start working on banning cryptocurrencies.

Meanwhile, Pakistani banks have initiated steps to inform their customers about the illegality of cryptocurrency trading, at a time in which cryptocurrencies are seeing their popularity grow in the country. According to the Pakistani newspaper Dawn, the annual trading volume for Pakistan-based wallets grew to $25 billion, up from $18 to $20 billion the previous year.

Coinbase One Opens Zero-Fee Subscription Service

Nasdaq-listed cryptocurrency exchange Coinbase has announced new updates to its premium zero-fee subscription service Coinbase One as it took out of beta testing and expanded it outside of the U.S. to include the U.K., Germany, and Ireland.

 The company reports that subscribers will now enjoy zero trading fees, higher staking rewards, and additional benefits through partner firms all for a monthly fee of $29.99. The move comes as part of Coinbase’s commitment to helping users gain more value from the crypto economy.

Coinbase will also offer subscribers in the U.S. pre-filled tax return documents. Its One subscription services provide members the opportunity to trade without incurring transaction fees, and includes reduce staking commissions and unique rewards for users using its staking service.

Coinbase One currently has a presence in 35 countries, with full availability of the subscription service rolling out to these in the “coming months” as the firm plans to expand to additional markets.

Crypto Market Movers – RNDR, RAD, KAVA

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Radicle (RAD) - RAD is the native token of Radicle, a decentralized code collaboration network built on open protocols. It enables developers to collaborate on code without relying on trusted intermediaries. Radicle was designed to provide similar functionality to centralized code collaboration platforms — or "forges" — while retaining Git’s peer-to-peer nature, building on what made distributed version control so powerful in the first place.

Kava (KAVA) - Kava is a decentralized finance (DeFi) platform built on the Cosmos blockchain. It is designed to enable users to earn interest on their digital assets and also borrow cryptocurrencies using its stablecoin, USDX. Kava uses the Tendermint consensus algorithm and has a feature called "Hard Protocol" that enables users to borrow and lend cryptocurrencies.

Render token (RNDR) - The Render Network is designed to connect users looking to perform render jobs with people who have idle GPUs to process the renders. Owners would connect their GPUs to the Render Network in order to receive and complete rendering jobs using OctaneRender.

State of the Crypto by Top Tier Exchange Volume

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