Voyager Digital, a crypto broker that filed for bankruptcy in July 2022, has unveiled a recovery plan that involves selling off its assets and using the proceeds to pay back its creditors. The total value of the assets for recovery was estimated to be $1.33 billion.
The recovery plan includes $141 million in stablecoin, $90 million in Ethereum, $9 million in Voyager Token, $28 million in meme coin Shiba Inu, and $60 million in other altcoins, with approximately $569 million in cash via the USDC issuer Circle. However, the remaining balance of $461 million is expected to come from a combination of cash, Bitcoin, and other coins.
A bankruptcy court must approve this decision. The crypto community receives the recovery plan positively, and the affected users are hopeful for reimbursement.
Meanwhile, Binance.US has terminated an agreement to purchase Voyager Digital Holdings Ltd. owing to the unpredictable operating environment in the United States.