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Voyager restructures and prepares for sale

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Voyager restructures and prepares for sale

Cryptocurrency broker Voyager Digital announced the preparation of a plan to restructure and resume the withdrawal of cash from the platform

According to Voyager Digital, the company has developed a plan that includes its potential sale. From unnamed sources at Voyager, it is known that the company received several buyout offers that were “higher and better” than FTX’s earlier offer.

The judiciary agreed on the submitted restructuring plan and approved the bidding procedures if the sale of Voyager’s assets is found to be worthwhile. At the same time, the court determined the date of October 3 as the deadline for filing claims against Voyager. The next hearing date for the company’s case is set for September 8.

In addition, Voyager announced plans to “restore access” to deposits and cash advances, which will be the next step for the company on the path of restructuring and regaining customer confidence:

“Yesterday, the court approved our proposal and restored access to cash held in accounts at the Metropolitan Commercial Bank. We understand how important it is to have access to your funds. The resumption of access to the Voyager app for withdrawing cash in US dollars is expected on August 11th. The daily limit per user will be $100,000.”

Recall that Voyager Digital, a cryptocurrency broker, received approval from the New York District Court to pay customers part of the funds from the $350 million blocked earlier in the bankruptcy case.

Source: Bits

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