Bankrupt Crypto Lender Voyager Digital Predicts 35% Customer Payout

Source: US News & World Report

“Crypto lender Voyager Digital said Wednesday that customers will recover about 35% of their cryptocurrency deposits as the company winds down its operations after a failed buyout attempt by crypto exchange Binance.US. U.S. Bankruptcy Judge Michael Wiles approved Voyager’s proposed liquidation plan at a court hearing in Manhattan on Wednesday, allowing the company to return about $1.33 billion in crypto assets to customers and end its efforts to reorganize under Chapter 11. Voyager filed for bankruptcy protection in July, citing volatility in cryptocurrency markets and a default on a large loan made to crypto hedge fund Three Arrows Capital (3AC).” (05/17/23)