According to a Reuters report, Crypto lender Voyager Digital’s efforts to reorganize under Chapter 11 have ended, with a U.S. Bankruptcy Judge approving their proposed liquidation plan.
The company filed for bankruptcy protection last July due to volatility in cryptocurrency markets and a default on a large loan made to crypto hedge fund Three Arrows Capital, which will return customers about $1.33 billion in crypto assets. However, customers will only recover about 35% of their cryptocurrency deposits as the company winds down its operations after a failed buyout attempt by crypto exchange Binance.US.
Voyager Leaves Customers With Only Fraction Of Deposits
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Voyager’s bankruptcy case was complicated by two failed sale attempts during the bankruptcy process. The company initially sought to sell its assets for $1.42
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