Voyager has been approved to start repaying its customers! But how much would the bankrupt crypto lending platform creditors receive? Read more here -
Bankrupt crypto lending platform Voyager Digital won court approval on Wednesday to begin repaying its customers’ long-trapped money.The approval to commence liquidation procedures comes over 10 months after Voyageur
customer withdrawals in July 2022, shortly after defunct hedge fund Three Arrows Capital filed for bankruptcy.by Bloomberg, Judge Michael Wiles said that “nobody is happy with the liquidation,” referring to customers dissatisfied with the bankruptcy process and result. Common criticisms included the cost of the bankruptcy, the amount being paid to lawyers, the oversight of the case, and the fractional returns that creditors would receive.
Nevertheless, Wiles noted that this was their only option since Voyager simply lacks the funds to repay customers in full. “Hindsight’s 20/20 – ’m sure everybody wishes that something better had happened,” said Wiles. “We are where we are, we’re trying to do the best with where we are.”
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