The restructuring of Voyager Digital was hammered by the failure of the crypto exchange FTX in November 2022. Voyager's recovery strategy was in shambles after FTX declared insolvency in late November 2022. We will see about the current Voyager customers, and more.
Are There Any Voyager Customers Now?
There were 3.5 million Voyager customers, and many of them are currently making every effort to recover some of their money. In accordance with a press statement issued by Voyager on July 6, account holders who have cryptocurrency in their Voyager accounts will receive a mix of cryptocurrency, money recovered from 3AC, common shares in a newly reorganized company, and VGX tokens.
On July 6, 2022, Voyager announced that it had over $110 million in cash and cryptocurrency on board, which would be used to maintain daily operations throughout the bankruptcy process. The business had over $650 million in claims against currency 3AC and about in $13. assets on its platforms.
Who Is Buying Voyager Crypto?
On September 27, 2022, FTX US won an auction to purchase all of Voyager's cryptocurrency, which, at the time of the auction, was valued at $1.31 billion. The deal's $1.42 billion worth was made public.
On October 21, 2022, Voyager announced that the agreement had been approved by the court and urged all customers and creditors to support the agreement in order to finish its completion. Voyager had to restart the procedure after FTX failed in November 2022.
The US Securities and Exchange Commission (SEC) has objected to the major cryptocurrency exchange Binance's planned $1 billion acquisition of the insolvent crypto lender Voyager Digital.
Summary
Voyager went public on the Toronto Stock Exchange in September 2021. At that time, the business had over two million Voyager customers on its platform and was in charge of handling assets worth over $5 billion.
