Voyager can’t guarantee all customers will receive their crypto under proposed recovery plan
2022.07.12 15:16
Voyager can’t guarantee all customers will receive their crypto under proposed recovery plan
Budrigannews.com – Following Voyager Digital filing for bankruptcy on Tuesday, the crypto lending firm said its recovery plan was aimed at preserving customer assets but did not explicitly state it would be able to return all equivalent funds to affected users.
In a Monday blog, Voyager said it had roughly $1.3 billion in affected users’ funds in addition to $650 million of “claims against Three Arrows Capital” — referring to the 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC) loan the firm failed to repay. According to Voyager’s proposed recovery plan — subject to approval from the courts — users may receive a combination of Voyager tokens, cryptocurrencies, “common shares in the newly reorganized company,” and funds from any proceedings with Three Arrows Capital, or 3AC.
