Voyager Files for Bankruptcy Citing Contagion in Crypto Markets, Three Arrows...
Crypto lender Voyager Digital has filed for Chapter 11 bankruptcy. The company explained that the “prolonged volatility and contagion in the crypto markets” and the default of crypto hedge fund Three Arrows Capital (3AC) on a loan require it “to take deliberate and decisive action now.” Voyager’s Bankruptcy Filing Voyager Digital Ltd. (TSE: VOYG) announced Wednesday that it has filed for Chapter 11 bankruptcy. The announcement details: The company and its main operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 in the U.S.....
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Voyager files for Chapter 11 bankruptcy due to their large exposure to Three Arrows Capital as the contagion continues to spread across the market.
Another crypto lender, Celsius Network, has sought bankruptcy protection in the U.S. “Customer claims will be addressed through the Chapter 11 process,” the company said. Two other crypto firms recently filed for bankruptcy protection: Voyager Digital and Three Arrows Capital (3AC). Celsius Follows Voyager, Files for Chapter 11 Bankruptcy Crypto lender Celsius Network announced Wednesday that it has “filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New....
Crypto lender Voyager Digital is the latest domino to fall in the tumultuous market for digital assets. Voyager Digital disclosed on Wednesday that it filed for bankruptcy on Tuesday with the U.S. Bankruptcy Court for the Southern District of New York. The bankruptcy petition comes a week after the company froze withdrawals, trading, and deposits as […]
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....
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....