Voyager Digital Provide Update On Reorganization Plan

Following the failure of the anticipated buyer FTX exchange, Voyager Digital has reopened the bidding for its assets.

The main goal of this process has been to maximize the value returned to customers and other creditors.

Voyager Digital and the Voyager Official Committee of Unsecured Creditors (UCC) are moving with all due caution and deliberate speed to identify an alternative reorganization plan consistent with that goal.

Voyager also disclosed information about its financial ties to FTX’s commercial empire, noting that Alameda Research loans totaling 6,500 BTC and 50,000 ETH had been successfully recalled.

“At the time of FTX Group’s Chapter 11 filing, Voyager maintained a balance of approximately $3 million at FTX, substantially comprised of locked LUNA2 and locked SRM that it was unable to withdraw because they remain locked and subject to vesting schedules.”

Voyager’s assets were slated to be purchased by FTX, and last month the cryptocurrency lender pushed for the sale to go through. In July, Voyager Digital announced bankruptcy.

This week’s abrupt collapse of FTX and subsequent filing for bankruptcy raised doubts about the deal. Sam Bankman-Fried is currently dealing with legal issues as well, and his net worth has been reduced to zero.

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Harold

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