VOYAGER COURT UPDATES- GOOD NEWS | WHAT TO EXPECT FOR YOUR CRYPTO, USD, AND MORE

finance Oct 30, 2022
Voyager digital chapter 11 bankruptcy updates and what you must know about USD cash , crypto, and more

Let's discuss the most recent updates regarding the Voyager Chapter 11 bankruptcy case and what it means for your USD cash and cryptocurrency holdings.

Will you get anything back? How much will it be? When could we expect it?

Since the announcement of bankruptcy customers with Voyager Digital have been stuck with frozen assets on the platform and have been unable to do anything with their USD cash or crypto.

 

 

 

HIGHLIGHTS

  • 88 interested parties
  • 46 has signed non disclosures
  • 22 parties are in the active sales process
  • Voyager is expecting more offers shortly
  • FTX isn’t the highest offer and 2nd court hearing docket explains why it wasn’t a good deal (link to court docket at top)
  • Employees pay at voyager is primarily equity and many also have crypto seized on voyager platform
  • Sussberg (attorney) has stated Rival offers will give customers “much more than 30 cents in the dollar”
  • Of course it depends on other offers, etc but seems like we won’t lose everything - could potentially get more than many of us anticipate (🤞)
  • In terms of restructuring deadline and when Voyager would be back up and running— goal is Q1 of 2023 based on all the offers (of course it’s subject to approvals, courts, etc)
  • Voyager has stated its in the best interest of everyone to move fast


USD UPDATE

Customers will get back ALL USD as it’s property of customers and was held at the bank..

USDC is a different story however- that is part of crypto and hasn’t been determined


CONCLUSION

Outside of the really dumb loan practices I do feel voyager is trying to rectify and I don’t think we are in as bad of shape as most are fearing

Voyager has a large customer base and is actually a profitable company (outside of bad loan practices)

This is actually a good company to acquire

For those who are terrified and in a really rough spot (many have entire life savings ).. please hang in there.

Stay focused on working , saving, learning from this (I have about 130k in crypto locked up).

We may or may not be fully restored from this but I think it’ll be reasonable and a few years from now we will still be in a good spot

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