Bankrupt crypto lender Voyager Digital shrinks portfolio by nearly 40%

Bankrupt crypto lender – Voyager – is slowly working towards making customers whole.

Voyager at one point held approximately $413 million in multiple crypto-assets. However, since enabling withdrawals for users on June 23, it has recorded a steady flow of crypto asset outflows worth a total of $250 million. As a result, Voyager’s crypto portfolio has decreased by 39.46%.

• According to statistics Voyager currently holds $176.38 million worth of cryptocurrency, as compiled by Dune Analytics. This includes $69.02 million in bitcoin, $50.99 million in ether, $18.56 million in USDC, $15.70 million in SHIB and $2.46 million in MATIC.
• The bankrupt firm has a net asset ratio of 96.15% (excluding its native token VGX) and sits on a stablecoin balance of approximately $19 million.
• United States Bankruptcy Judge Michael Wiles gave the green light to Voyager’s proposed liquidation plan in May this year.
• The move enabled the crypto lender to compensate customers for approximately $1.33 billion in crypto assets and end its efforts to reorganize under Chapter 11.
• Voyager soon announced that customers would be able to recover approximately 36% of their cryptocurrency deposits.
• Most recently, Gemini announced that it would allow withdrawals for the victims of the Voyager bankruptcy case.
• The company was crippled last year by the implosion of Zhu Su-led crypto hedge fund Three Arrows Capital (3AC), which had previously defaulted on a $665 million Voyager loan.
• It later faced two failed recovery deals from FTX and Binance.

Bankrupt crypto lender – Voyager – is slowly working towards making customers whole.

Voyager at one point held approximately $413 million in multiple crypto-assets. However, since enabling withdrawals for users on June 23, it has recorded a steady flow of crypto asset outflows worth a total of $250 million. As a result, Voyager’s crypto portfolio has decreased by 39.46%.

• According to statistics Voyager currently holds $176.38 million worth of cryptocurrency, as compiled by Dune Analytics. This includes $69.02 million in bitcoin, $50.99 million in ether, $18.56 million in USDC, $15.70 million in SHIB and $2.46 million in MATIC.
• The bankrupt firm has a net asset ratio of 96.15% (excluding its native token VGX) and sits on a stablecoin balance of approximately $19 million.
• United States Bankruptcy Judge Michael Wiles gave the green light to Voyager’s proposed liquidation plan in May this year.
• The move enabled the crypto lender to compensate customers for approximately $1.33 billion in crypto assets and end its efforts to reorganize under Chapter 11.
• Voyager soon announced that customers would be able to recover approximately 36% of their cryptocurrency deposits.
• Most recently, Gemini announced that it would allow withdrawals for the victims of the Voyager bankruptcy case.
• The company was crippled last year by the implosion of Zhu Su-led crypto hedge fund Three Arrows Capital (3AC), which had previously defaulted on a $665 million Voyager loan.
• It later faced two failed recovery deals from FTX and Binance.