The bankruptcy proceedings of Voyager Digital, a now-defunct crypto firm, are coming to an end, with creditors set to receive their funds “within the next few weeks,” according to a committee of Voyager creditors.
The company’s restructuring plan includes a “toggle option,” which will allow for the self-liquidation of the bankrupt broker following Binance.US’ decision to back out of its initial agreement to purchase $1.02 billion worth of Voyager’s assets.
This decision allows Voyager to distribute cash and crypto to its customers directly through its platform. The UCC was disappointed with Binance.US’ move, stating that it would be investigating potential claims against the cryptocurrency exchange for its last-minute change of heart.
However, with 97% of the 61,300 Voyager customers who voted in favor of the court’s restructuring plan, the UCC is hopeful that the Voyager platform will go “effective” with the plan if no objections are filed within the next 10 days.
