Voyager Cleared to Begin Reimbursing Locked-Out Account Holders

Crypto lending platform Voyager Digital has received court approval to begin repaying its customers’ funds after more than 10 months of frozen withdrawals. However, customers are only guaranteed to receive 36% of their owed amount. The liquidation process was initiated shortly after hedge fund Three Arrows Capital filed for bankruptcy last July. Judge Michael Wiles notes that Voyager does not have enough funds to pay its customers in full and that this was their only option. Voyager’s buyout deals with FTX and Binance US fell through, leaving only $630 million to repay $1.8 billion in customer claims. Customers have expressed dissatisfaction with the bankruptcy process and fractional returns. However, Wiles stated that they are doing their best with the current situation, and hindsight is 20/20.

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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