• Voyager Digital is planning to self-liquidate its assets and shut down operations after failed attempts to purchase it from Binance and FTX.
• 38 unsupported tokens will be liquidated and returned to customers, while those with 67 supported assets can withdraw a certain percentage of their holdings.
• Initial distributions are expected to begin within the next few weeks, and the deadline for objections is May 15th at 4 PM EST.
Voyager Digital’s Failed Purchase Agreements
Binance.US’s long-running effort to acquire the crypto lender’s assets came to an end nearly ten days ago when Voyager Digital decided to self-liquidate its assets and shut down operations instead. This was done after two failed purchase agreements with both Binance and FTX exchanges.
According to a court filing on May 4th, it was estimated that customers would get an initial recovery of 35.72%. The filing also revealed that 38 „unsupported“ tokens such as Tron (TRX), Solana (SOL), Algorand (ALGO), Celo (CELO) and Avalanche (AVAX) cannot be withdrawn and hence will be liquidated and returned back to customers. Meanwhile, those with any of the 67 „supported“ assets such as Bitcoin (BTC) or Ether (ETH) will be able to withdraw a certain percentage of their holdings directly.
The initial distributions are expected to begin within the next few weeks, giving customers access back into their accounts again soon. The deadline for any objections against the liquidation process is set at May 15th at 4 PM EST, which should be submitted directly through the US Bankruptcy Court of Northern California in San Francisco.
Voyager Digital’s plan for self-liquidation signals an end to its time as one of America’s leading crypto lenders, bringing a close on yet another chapter in this long saga between digital asset companies trying establish themselves in the US despite facing growing pressure from regulators.
Any objections or comments against Voyager Digital’s planned liquidation must be submitted before May 15th at 4 PM EST via the US Bankruptcy Court of Northern California in San Francisco for consideration by all parties involved.