Bankrupt exchange Voyager Digital to shut shop after failed deals, details inside | Keyword Financial

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Bankrupt exchange Voyager Digital to shut shop after failed deals, details inside

May 6, 2023

By Suzuki Shillsalot

Voyager Digital to self-liquidate its assets after failing to reach a deal.

Voyager’s customers will receive an initial recovery of 36% of their crypto holdings.

According to Voyager Digital’s lawyers, the bankrupt crypto lender will self-liquidate its assets and cease operations after failing to reach an agreement on a sale to either FTX US or Binance.US.

The announcement, shared in a court filing on 5 May, comes just ten days after Binance.US abruptly backed out of a $1 billion deal to buy Voyager Digital’s assets when the US government intervened to prohibit part of it.

Prior to the agreement with Binance.US, the crypto lender made a similar offer to FTX. When FTX went bankrupt alongside Voyager in November, the first contract was cancelled.

Voyager stated in a filing that a number of digital assets on the platform that cannot be removed will be liquidated and returned to its users. These assets include major cryptocurrencies such as Algorand [ALGO], Celo [CELO] and Avalanche [AVAX].

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