Voyager Digital Provides Update on Reimbursement Plan for Creditors

0 0

Voyager Digital Provides Update on Reimbursement Plan for Creditors

knife

Following Binance’s withdrawal from the Voyager Digital deal on April 25, the now-defunct crypto lender has recently informed creditors that they can expect to receive their initial cash and crypto distributions “within the next few weeks.” This update comes nine days after Binance’s decision to back away from the deal.

Voyager Digital Expects Initial Distributions to Creditors ‘Within the Next Few Weeks’

Voyager Digital has published an update for creditors. According to a tweet from the firm on May 4, 2023, they may be able to expect some cash or crypto back “in a few weeks.” This update comes after a long and difficult journey for the TSX-listed crypto lender. Last year on July 1, 2022, Voyager Digital halted withdrawals and filed for bankruptcy just days later. Since then, the defunct business has been navigating the bankruptcy process after it was almost acquired by Binance US.

After Binance US backed out of the deal, the crypto lender has been left to navigate the bankruptcy process in the Southern District of New York in order to reimburse creditors. But despite the challenges, Voyager Digital says it is making progress. In the tweet on Thursday, the firm explained that they are “in the process of finalizing liquidation procedures.” Voyager also reminded creditors that the liquidation procedures must be filed before the plan can go into effect.

While Voyager is moving forward with their plan to reimburse creditors, there’s still a chance for objections. According to the firm, parties will have ten full days to object to the plan. If no objections are filed, Voyager intends to go “effective” with the plan at that time. However, if an objection is filed, the court will hold a hearing to consider the objection before the plan can go into effect. The plan had a clause that explained what would happen if the Binance US deal fell through, which allowed Voyager to begin liquidating assets.

The company stated on Thursday:

Voyager is also finalizing everything internally that is necessary to make distributions to creditors. We are hopeful that initial distributions will begin within the next few weeks.

The news of Voyager Digital’s plan to reimburse creditors has been met with mixed reactions. While many customers are pleased with the progress, others are feeling frustrated. One person responded that customers wanted their assets “last August and July.” Another individual stressed on Twitter, “Hurry up!” And yet another person added, “No one, I repeat no one, file an objection! Ok!”

What are your thoughts on Voyager Digital’s plan to reimburse creditors? Do you think they’re making progress, or do you feel frustrated by the delays? Share your opinions in the comments section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 27,228.30
ethereum
Ethereum (ETH) $ 1,905.12
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 307.41
usd-coin
USD Coin (USDC) $ 0.99982
xrp
XRP (XRP) $ 0.524534
staked-ether
Lido Staked Ether (STETH) $ 1,903.44
cardano
Cardano (ADA) $ 0.378745
dogecoin
Dogecoin (DOGE) $ 0.072725
solana
Solana (SOL) $ 21.31
matic-network
Polygon (MATIC) $ 0.899051
tron
TRON (TRX) $ 0.081917
litecoin
Litecoin (LTC) $ 95.30
polkadot
Polkadot (DOT) $ 5.29
binance-usd
Binance USD (BUSD) $ 0.999999
shiba-inu
Shiba Inu (SHIB) $ 0.000009
avalanche-2
Avalanche (AVAX) $ 14.47
dai
Dai (DAI) $ 1.00
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 27,257.30
uniswap
Uniswap (UNI) $ 5.07
leo-token
LEO Token (LEO) $ 3.60
chainlink
Chainlink (LINK) $ 6.44
cosmos
Cosmos Hub (ATOM) $ 10.61
okb
OKB (OKB) $ 46.45
monero
Monero (XMR) $ 145.92
the-open-network
Toncoin (TON) $ 1.75
ethereum-classic
Ethereum Classic (ETC) $ 18.16
stellar
Stellar (XLM) $ 0.0923
bitcoin-cash
Bitcoin Cash (BCH) $ 114.82
filecoin
Filecoin (FIL) $ 4.99
internet-computer
Internet Computer (ICP) $ 4.81
true-usd
TrueUSD (TUSD) $ 0.999765
lido-dao
Lido DAO (LDO) $ 2.31
aptos
Aptos (APT) $ 8.97
quant-network
Quant (QNT) $ 119.37
hedera-hashgraph
Hedera (HBAR) $ 0.050722
arbitrum
Arbitrum (ARB) $ 1.24
crypto-com-chain
Cronos (CRO) $ 0.059498
near
NEAR Protocol (NEAR) $ 1.63
vechain
VeChain (VET) $ 0.019868
the-graph
The Graph (GRT) $ 0.130736
apecoin
ApeCoin (APE) $ 3.15
algorand
Algorand (ALGO) $ 0.152247
the-sandbox
The Sandbox (SAND) $ 0.574681
paxos-standard
Pax Dollar (USDP) $ 0.998751
frax
Frax (FRAX) $ 1.00
edgecoin-2
Edgecoin (EDGT) $ 1.00
eos
EOS (EOS) $ 0.903692
elrond-erd-2
MultiversX (EGLD) $ 37.60
rocket-pool
Rocket Pool (RPL) $ 49.14
render-token
Render (RNDR) $ 2.58
optimism
Optimism (OP) $ 1.45
aave
Aave (AAVE) $ 63.75
fantom
Fantom (FTM) $ 0.323008
decentraland
Decentraland (MANA) $ 0.486365
blockstack
Stacks (STX) $ 0.616201
theta-token
Theta Network (THETA) $ 0.848035
tezos
Tezos (XTZ) $ 0.906729
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,046.61
axie-infinity
Axie Infinity (AXS) $ 7.12
immutable-x
ImmutableX (IMX) $ 0.806122
havven
Synthetix Network (SNX) $ 2.39
flow
Flow (FLOW) $ 0.72808
usdd
USDD (USDD) $ 0.999731
radix
Radix (XRD) $ 0.072396
bitdao
BitDAO (BIT) $ 0.501028
gala
GALA (GALA) $ 0.03025
neo
NEO (NEO) $ 10.26
kucoin-shares
KuCoin (KCS) $ 7.41
whitebit
WhiteBIT Token (WBT) $ 4.91
curve-dao-token
Curve DAO (CRV) $ 0.855575
bitget-token
Bitget Token (BGB) $ 0.470846
bitcoin-sv
Bitcoin SV (BSV) $ 32.89
injective-protocol
Injective (INJ) $ 7.88
gatechain-token
Gate (GT) $ 4.41
maker
Maker (MKR) $ 665.99
conflux-token
Conflux (CFX) $ 0.286478
klay-token
Klaytn (KLAY) $ 0.186186
gemini-dollar
Gemini Dollar (GUSD) $ 1.00
bittorrent
BitTorrent (BTT) $ 0.00000058925788
kava
Kava (KAVA) $ 1.01
iota
IOTA (MIOTA) $ 0.198564
chiliz
Chiliz (CHZ) $ 0.100949
pepe
Pepe (PEPE) $ 0.000001
pax-gold
PAX Gold (PAXG) $ 1,958.93
casper-network
Casper Network (CSPR) $ 0.046769
tokenize-xchange
Tokenize Xchange (TKX) $ 6.36
sui
Sui (SUI) $ 0.946883
xdce-crowd-sale
XDC Network (XDC) $ 0.035995
terra-luna
Terra Luna Classic (LUNC) $ 0.000085
compound-ether
cETH (CETH) $ 38.28
mina-protocol
Mina Protocol (MINA) $ 0.545278
gmx
GMX (GMX) $ 56.14
huobi-token
Huobi (HT) $ 3.00
dash
Dash (DASH) $ 42.78
tether-gold
Tether Gold (XAUT) $ 1,958.48
ecash
eCash (XEC) $ 0.000025
frax-share
Frax Share (FXS) $ 6.63
trust-wallet-token
Trust Wallet (TWT) $ 1.08
frax-ether
Frax Ether (FRXETH) $ 1,903.02