Failed Crypto Broker Voyager Digital Cleared to Start Repaying Customers’ Frozen Funds
- Customers’ 36% return may go up based on FTX dispute outcome
- Judge says nobody wanted liquidation, but is best path forward
This article is for subscribers only.
Failed cryptocurrency brokerage Voyager Digital Holdings Inc. won court approval to begin winding down its operations and start repaying customers a portion of their crypto that’s been held on its platform since last year.
Judge Michael Wiles approved Voyager’s liquidation procedures Wednesday, about a month after Binance.US terminated an agreement to purchase the crypto platform and after a deal to sell itself to FTX last year fell apart. Voyager customers will get about 36% of what they’re owed but their recovery could increase if the firm succeeds in a pending dispute with FTX, according to court documents.