How Many Users On Voyager? Voyager claimed 3.5 million customers before the company filed for bankruptcy. But such a big cryptocurrency broker filed for bankruptcy in July. The question is, "how much will voyager users get back?" Let's see.
How Much Will Voyager Users Get Back?
Short Answer: 72% recovery of their claims
The estimated 72% recovery of claims would go to general unsecured creditors and Voyager customers who had accounts on the platform.
Account users can expect to receive a mix of cryptocurrencies, US dollars, or USDC—a cryptocurrency pegged to the US dollar's value.
If the sale to FTX is finalized, account holders' payout currency will depend on whether they choose to migrate to FTX. Their ability to reclaim their currency will also depend on whether or not they transfer their accounts and which cryptocurrencies are supported by the FTX platform .
The "vast majority" of the more than 1 million account holders are expected to go over to the FTX platform, according to Voyagers' attorney.
Account holder claims also will be decided based on the fair market value of the cryptocurrency they held in their Voyager account on July 5, according to Voyager's court disclosures. That's when Voyager declared bankruptcy.
That means if a Voyager account had 1 Ether worth $1,131.60 on July 5, that claim is worth $1,131.60. That account holder will presumably get 72% of $1,131.60.
Once a customer determines their claim amount, they must then figure out their “initial distribution,” which will be a pro-rated share of their claim. The initial distribution will largely be funded by the FTX sale proceeds. Later payouts could come from other sources.
Users must register and maintain an account with FTX in order to receive an initial distribution that is mostly made in cryptocurrencies. After a migration time, customers who choose not to open an FTX account will ultimately receive a cash refund.
Under the proposed plan, the initial distribution customers receive in their FTX account depends on their claims and the 20-day historical average price of that cryptocurrency based on a future point in time that hasn't been publicly announced.
Customers of Voyager who use a cryptocurrency that FTX does not accept would be given USDC. According to Voyager filings, FTX's platform intends to develop in the following months to support other cryptocurrencies.
How Many Users On Voyager? How Much Will Voyager Users Get Back? -- Hopefully, this article can help you to understand it better.
