Voyager Digital Plans to Liquidate Assets, Wind Down After Sale Dreams Crushed (2024)

FAQs

Will Voyager Digital customers get their money back? ›

By May 2023, a restructuring plan proposed that Voyager customers could recoup 35.7% of their claims in either cryptocurrency or cash.

Voyager announced that it will return approximately 35% of customers' cryptocurrency deposits. The approval of Voyager's liquidation plan allows for the distribution of around $1.33 billion in crypto assets to customers.

Voyager filed for bankruptcy in July last year, becoming a casualty of a dramatic fall in prices that had shaken the cryptocurrency sector.

Completing the Chapter 11 plan that the bankruptcy court approved in March 2023, Voyager issued approximately 627,000 checks worth $131 million for the initial distribution to creditors.

Crypto lender Voyager Digital announced on Wednesday that it will be winding down operations and returning approximately 35% of customers' cryptocurrency deposits.

If you invested with Voyager Digital and were adversely affected, you might be eligible to join or file a class action claim.

If you meet the criteria to consider your investment as “worthless”, you can claim the loss. However, by doing so you are relinquishing your rights to claim the assets in the future. Investment losses can offset your capital gains during the year and up to $3,000 of income.

How Would I Regain Access to My Crypto? In the worst-case situation where Ledger or Trezor are shut down, the retrieval process is the same as if your device had been lost or stolen. This is because neither operates in a closed system where your private keys are locked into a single device.

Your US dollars held on Voyager are insured up to $250,000 by our banking partner, Metropolitan Commercial Bank, so your cash is safe with us.” Another email reassured consumers that “the cash you hold with Voyager is protected up to $250,000 – which means it's as safe with us as at a bank.”

You can now withdraw your Voyager crypto from the Voyager app and send it to your Exodus self-custody wallet. If you need to, you can download Exodus here: Download Exodus. From June 23, 2023, you will have 30 days to complete your withdrawal.

What's going on with Voyager crypto? ›

Bankrupt crypto firm Voyager Digital has made progress toward compensating its creditors by securing $484 million through settlements with FTX, Three Arrows Capital (3AC) and Directors and Officers (D&O) insurance claims.

Voyager, a crypto trading platform founded in 2018, was one of many digital assets firms to go bust and file for Chapter 11 bankruptcy amid a crash in crypto prices in 2022. The exchange gained court approval last May to wind down operations and pay back customers a portion of what they're owed.

The proposed settlement with Voyager and its affiliates will permanently ban the companies from offering, marketing, or promoting any product or service that could be used to deposit, exchange, invest, or withdraw any assets.

Voyager 1 "wakes up" and resumes sending data to Earth from interstellar space. For the first time since November 2023, NASA's Voyager 1 spacecraft has started transmitting useful data back to Earth about the status and functionality of its onboard systems.

Voyager 1's flight data system collects information from the spacecraft's science instruments and bundles it with engineering data that reflects its current health status. Mission control on Earth receives that data in binary code, or a series of ones and zeroes.

(Voyager). The claims were settled between Voyager and FTX Trading Ltd. (FTX) and its affiliated debtors and debtors-in-possession, resulting in $445 million in creditor recovery.

According to our current Voyager Token price prediction, the price of Voyager Token is predicted to rise by 20.15% and reach $ 0.098321 by July 13, 2024. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 74 (Greed).

Voyager has about $630 million to repay around $1.8 billion in customer claims, according to a May 5 court filing. Customers have the option of taking their repayment in crypto or U.S. dollars.

The Federal Trade Commission announced a settlement with bankrupt crypto company Voyager that will permanently ban it from handling consumers' assets and is filing suit against its former CEO, Stephen Ehrlich, for falsely claiming that customers' accounts were insured by the Federal Deposit Insurance Corporation (FDIC) ...

Navigate to your Voyager account and find the option for downloading your complete transaction history. Import your transaction history directly into CoinLedger by mapping the data into the preferred CSV file format. CoinLedger automatically generates your gains, losses, and income tax reports based on this data.