Voyager Offers Customers Two Options For Recovery Of Assets Worth $1.334B

Key Points:

• Voyager updated that it now owns assets worth $ 1.334 billion, or 75.68% of the total assets customers claim.
• Users can choose to make an initial withdrawal over two options either in crypto via the Voyager platform or wait until after the crypto withdrawal period to receive their initial withdrawal in USD.
• Previously, the platform’s Unsecured Creditors Committee (UCC) stated that when the platform reopens, account holders can only transfer their cryptocurrencies from the platform.

Voyager has released an important update on the customer’s initial recovery on the official blog. According to the article, users can choose one of two recovery options provided by the platform.

This platform currently owns assets worth $ 1.334 billion, or 75.68% of the total assets that customers claim against Voyager. Due to inevitable delays, the customer will receive an initial recovery estimated at 35.72% of the requested amount.

Customers may receive additional recoveries in the future, subject to the resolution of the FTX/Alameda priority claim dispute, the success of additional claims made by the Voyager package administrator for third parties, and the recovery of Voyager’s assets as a creditor in the future liquidation of Three Arrows Capital. Subsequent payments may be made in cash or cryptocurrency at the Program Administrator’s discretion.

Users can choose to make an initial withdrawal in crypto through the Voyager platform or wait until after the crypto withdrawal period to receive their initial withdrawal in USD.

Once the Voyager app becomes accessible, users will have 30 days to log in and transfer supported cryptocurrencies from their account to the specified wallet address. Some crypto tokens do not support (i.e. non-transferable cryptocurrency from the Travel platform), and VGX holders will receive a prorated portion of USDC, which can then be transferred from the platform. The user requires no action to receive only the initial withdrawal in USD.

After the 30-day crypto withdrawal window ends, the user’s account will be liquidated, and the user will receive USD by check or can withdraw ACH. Once the plan is rolled out, Voyager will provide more information on the next steps, including when to open the 30-day window.

In addition, Voyager has filed liquidation proceedings with the bankruptcy court and will open the platform as soon as possible after the liquidation proceedings are approved. The crypto transfer window will close 30 days after this platform reopens.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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