Voyager reports bankruptcy after the payments have been frozen
Voyager reports bankruptcy after the payments have been frozen
- Voyager listed more than 100,000 creditors, with Alameda Research being the largest lender
- CEO Stephen Ehrlich explained that customers will receive their assets after the reorganization
Less than a week after the suspension of trade and the withdrawals in his network, Voyager Digital reported bankruptcy on Wednesday according to Chapter 11.
The Petition , submitted in the southern district of New York, shows that Voyager has more than 100,000 believers. The company based in Toronto noted between $ 1 billion and $ 10 billion in valued crypto-assets and the same span for its liabilities.
The Quant Crypto Trading company Alameda Research is listed as its greatest creditor and keeps undecided loans worth $ 75 million.
The announcement of Voyager takes place days after the crypto hedge fund Arrows Capital (3AC)-the Voyager owes millions-registered bankruptcy according to Chapter 11 on Saturday.
"Although I firmly believe in this future, the continued volatility and infection on the cryptoma markets in the past few months and the failure of Three Arrows Capital at a loan of the subsidiary of the company, Voyager Digital, LLC, we act consciously and now actively act," said CEO Stephen Ehrlich in a
The bankruptcy according to Chapter 11 enables a company to reorganize its assets and debts while it remains in the shop. Companies that choose this procedure must keep an eye on the interests of the creditors. Customers with crypto on their account/account in return receive a combination of crypto on their account/account, revenue from 3AC recovery, regular shares of the newly organized company and voyager token. - Stephen Ehrlich (@Ehrls15) 6. July 2022 Voyager showed signs of need when it tried to reclaim about $ 657 million that were allegedly borrowed from 3AC. His commitment to the hedge fund consisted of 15,250 BTC ($ 307 million) and $ 350 million in cash. Voyager called for the repayment by June 27, otherwise this would be a loss of payment. The application of 3AC to register bankruptcy indicates that the repayment has not been made. The whereabouts of the co -founders Zhu SU and Kyle Davies is not known. Last month Voyager secured $ 500 million in Alameda Research loans to protect customer assets. A company spokesman said Blockworks at the time that speculation about the company's bankruptcy was "clearly wrong". On July 1, Voyager exposed the trade, deposits, payouts and loyalty premiums and searched for "strategic alternatives". The trade is currently exposed. voyagers token VGX has fallen by 92 % this year and has fallen by $ 74 % in the last month alone, data from Blockworks research The company's share price has fallen by 98 % since the beginning of the year and, according to information, was last traded at $ 0.35 ($ 0.27) Commercial view . bring the best crypto and findings of the day into your inbox every evening. . The article Voyager Files for Bankruptcy Days After Freezing Withdrawals is not a financial advice.
engagement in Three Arrows Capital