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A company tasked with caring for some of Colorado’s sickest people failed to consistently provide basic services like insulin injections for more than a year before state and federal authorities intervened, as its profit-driven leaders recruited more clients than they could handle, former employees allege. The Denver Post spoke to seven former employees and board members of InnovAge, a Denver-based elder care provider, and reviewed hundreds of pages of lawsuits, federal inspection reports and whistleblower complaints. All painted a picture of an organization so focused on growth that it continued signing up new people — including some homeless Denver residents who didn’t qualify — while struggling to serve clients it already had. The Colorado Department of Health Care Policy and Financing announced in December that it would no longer pay for InnovAge to care for new clients covered by Medicaid in the Program of All-Inclusive Care for the Elderly, or PACE, which offers services … [Read more...] about Denver’s InnovAge was struggling long before Medicare stopped paying

Regardless of whether you believe that cryptocurrencies will play a role in the future of finance, the recent collapse in price for some crypto assets offers important lessons for investors. This is particularly true for younger investors who, according to media reports, may have borne the brunt of these losses. Diversify. You’ve likely heard this time and time again, but the foundation of any prudent investment portfolio is proper risk management. One aspect of risk management is diversification. Another element of risk management is proper sizing of positions – don’t put a material percentage of your investable assets in any one investment. While some crypto assets may have become worthless, if you had capped the size of the investment and were properly diversified, the collapse of one holding shouldn’t create a big challenge. For instance, if you had 1% of your assets in a crypto lending platform that evaporated, it would be disappointing but should not be life-altering. With … [Read more...] about Road to Retirement: Crypto crash offers lessons for investors

Share to Twitter Share to Linkedin Time has run out on the clock for Three Arrows Capital (3AC)’s loan from Toronto-based digital asset brokerage Voyager Digital. The firm issued a notice of default this morning to 3AC after the ailing hedge fund failed to meet its loan deadline this morning. The brokerage’s exposure to 3AC consists of $350 million and 15,250 BTC, now totaling $675 million due to Bitcoin BTC reaching $21,215. It loaned the funds, largely made of customer deposits, to 3AC to generate income and pay the up to 12% interest fees it offers to customers. The company initially requested a repayment of $25 million USDC USDC from 3AC by June 24 before subsequently requesting the entire USDC and BTC balance by today, June 27, last week. As of this morning, Voyager still holds $137 million in cash and assets, according to a company statement. They also have access to $200 million in cash and USDC and 15,000 bitcoin credit line from … [Read more...] about Ailing Crypto Trading Firm Three Arrows Capital Defaults On $675 Million Loan To Voyager Digital