Voyager can't guarantee all customers will receive their crypto under propose...
The crypto lending firm said that the exact amount reimbursed to users will “depend on what happens in the restructuring process and the recovery of 3AC assets." Following Voyager Digital filing for bankruptcy on Tuesday, the crypto lending firm said its recovery plan was aimed at preserving customer assets but did not explicitly state it would be able to return all equivalent funds to affected users.In a Monday blog, Voyager said it had roughly $1.3 billion in affected users’ funds in addition to $650 million of “claims against Three Arrows Capital” — referring to the 15,250 Bitcoin (BTC)....
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FTX and Binance reportedly seek to transition existing Voyager customers to their platforms whereas CrossTower has proposed to keep the existing Voyager platform and app. Cryptocurrency exchanges FTX, Binance and CrossTower are competing to acquire beleaguered crypto lender Voyager Digital’s assets out of bankruptcy, according to insider sources. According to details published by former investment banker and angel investor Simon Dixon, the three exchanges are competing in an auction to acquire Voyager Digital, and have each proposed their own terms and conditions for the acquisition. The....
The Fed and FDIC allege that Voyager “made various representations online" that its funds were FDIC insured. Cypto lender Voyager Digital has been directed to remove “false and misleading” statements that its user’s deposit accounts are FDIC insured.In a joint letter written on July 28 by Seth Rosebrockfrom & Jason Gonzalez, Assistant General Counsel at the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) to Voyager Digital, the authors said the representations “likely misled and were relied upon” by customers who placed funds with Voyager who now no longer have access....
FTX is proposing to buy out all Voyager Digital digital assets and digital asset loans, except loans to Three Arrows Capital, which would remain Voyager Digital’s problem. FTX and Alameda Ventures want to offer Voyager Digital customers a chance to start a new FTX account with an opening cash balance funded by an early distribution on a portion of their bankruptcy claims, FTX announced in a statement Friday. To accomplish this, Alameda Ventures said it would like to buy all Voyager digital assets and digital asset loans, with the exception of loans to Three Arrows Capital (3AC). A letter....
LGO exchange is a gateway for Voyager to access Europe. Crypto broker Voyager has teamed up with LGO, a European digital asset exchange focused on institutions. "LGO and Voyager will merge their services and offering under the Voyager brand, to offer a premium experience to retail cryptocurrency investors, in the US and in Europe," LGO CEO Hugo Renaudin told Cointelegraph. "European clients will be able to access the Voyager app using the LGO regulatory setup in Europe, and both LGO and VGX tokens will be merged into a new token."As a crypto broker, Voyager facilitates trades for customers....
Voyager Digital has joined the growing list of CeFi firms hurting as a result of exposure to Three Arrows Capital and declining crypto asset prices. Days after pausing trading, withdrawals and deposits, crypto exchange Voyager Digital is filing for bankruptcy under Chapter 11 in the Southern District Court of New York.Voyager's Chapter 11 bankruptcy filing indicated that it is on the hook for anywhere from $1 billion to $10 billion in assets to more than 100,000 creditors.The troubled crypto exchange wasted no time after the United States holiday to file for bankruptcy on July 5. In a....