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Customers of insolvent crypto lender Voyager Digital reaped a minor win in court Thursday morning with a U.S. Bankruptcy Judge approving Voyager’s motion to give customers back $270 million in ...
Customers of bankrupt crypto firms Celsius and Voyager detailed stories of distress in letters to a bankruptcy court. 'I have been in shock': Court letters reveal financial distress after Celsius ...
Recent court documents filed in the bankruptcy cases of Voyager Digital and Celsius Network reveal the financial ruin potentially facing customers of both companies.
A major investor in Voyager said that the collapse of FTX puts into jeopardy the company's bailout, with $1.3 billion of investor assets threatened. [10] Following the bankruptcy of FTX, the US subsidiary of Binance won the bid to buy the assets of Voyager for approximately $1 billion in December 2022. [11]
[3] [4] [5] The company borrowed billions of dollars to fund its trading, and according to July 2022 bankruptcy filings, faces $3.5 billion in creditors' claims. [ 6 ] [ 7 ] The fund appears to have lost in excess of $3 billion over 2021 and 2022, making its collapse one of the largest hedge-fund trading losses of all time.
The following is a list of the bankruptcy judges, as of May 2023, for the United States Bankruptcy Court for the Southern District of New York. [4] As with all federal bankruptcy judges in the US, judges are appointed by the circuit's court of appeals — in this case, the United States Court of Appeals for the Second Circuit. [5]
Voyager made a similar argument, telling a bankruptcy judge that it considered its customers’ crypto as pooled assets that it could use on the customer’s behalf, and that those assets should ...
Yahoo Finance is watching the bankruptcy of cryptocurrency platform Voyager Digital; the continued fallout from Tesla CEO Elon Musk's 2018 tweet; and a milestone Uber reached.