$484 Million Secured by Voyager Digital to Repay Creditors

Voyager Digital, a crypto firm that declared bankruptcy in July 2022, has successfully gathered $484 million to pay back its creditors.

Most of this sum, around $450 million, comes from a settlement with the now-collapsed crypto exchange FTX.

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An additional $14.35 million comes from a settlement in the Directors and Officers insurance mediation.

As a member of the Three Arrows Capital (3AC) creditors' committee, Voyager also anticipates receiving an initial $20.43 million from the fund's litigation process out of a total claim pool of roughly $675 million.

Voyager's restructuring plan was approved in May 2023, promising customers to recover at least 35% of their claims.

Despite the progress in client repayments, Voyager still faces operational issues, such as managing about 270,000 uncashed checks, mostly for amounts under $25, totaling up to $17 million. The firm has set an April 20 deadline to cash these checks.

Despite these challenges, Voyager remains committed to meeting its obligations to creditors, highlighting a determined yet optimistic post-bankruptcy journey.

The company's difficulties extend to its partners as well. A few months ago, a class-action lawsuit targeted the NBA due to allegations of negligence in approving marketing deals with Voyager Digital, which has led to investor losses exceeding $4.2 billion.