- It will also pay investors less than they originally expected.
- On this news, the Voyager VGX rate fell
Bankrupt crypto lender Voyager Digital has decided to cease operations and liquidate assets. This should from documents filed in the United States Bankruptcy Court for the Southern District of New York.
The company is forced to do this, as attempts to sell assets to Binance were not successful.
The report states that clients will only recover 36% of their assets. This is a much smaller percentage than they would receive in the event of a successful sale of the FTX platform or Binance. According to rough estimates, then they would return about 70% of the funds.
US.Voyager also said that customers with assets in supported cryptocurrencies will be able to directly withdraw the allocated interest. This package includes many coins, including bitcoin and ether. Those holding unsupported tokens (such as Solana) will receive dollar payouts upon liquidation.
Meanwhile, Voyager’s lenders still have a slim chance of getting back 64% of their funds. This will happen if Alameda Research does not win a lawsuit to recover $446 million from the company.
The liquidation plan presented is not final. The defendants can submit their objections to the court until May 15.
Against the background of such sad news, the rate of the native token Voyager (VGX) fell by more than 7% on Saturday. Now it continues to decline further.
But there is also a good point – payments to creditors will begin in the “coming weeks”.