Cryptocurrency NewsVoyager Digitally to Liquidate Assets and Shut Down Operations

Voyager Digitally to Liquidate Assets and Shut Down Operations

Voyager Digital, a bankrupt crypto lender, has announced that it will be liquidating its assets and shutting down operations after failed attempts to sell itself to FTX or Binance.US.

The company’s lawyers have disclosed that customers will only recover 36% of their crypto holdings, which is lower than the 72-73% estimated if the acquisition plans had gone through. The recovery rate may increase if Alameda Research is unsuccessful in clawing back $446 million from Voyager’s estate.

Customers with supported tokens will be able to withdraw the allowable percentage, whereas digital assets that cannot be withdrawn will be liquidated and returned to customers. The recovery rate for Voyager customers is significantly lower than that for Celsius, another bankrupt crypto platform, where creditors are estimated to receive 70% of their holdings.

Binance cited a “hostile” regulatory climate in the United States as the reason for pulling out of the deal to acquire Voyager.


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