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 <a href="https://bitcoinworld.co.in/voyager-takes-steps-towards-customer-recovery-amid-bankruptcy/" title="Voyager Takes Steps Towards Customer Recovery Amid Bankruptcy" rel="noopener noreferrer nofollow"></a> 
 Bankrupt crypto lender Voyager is making efforts to compensate its customers after experiencing significant losses. With nearly $413 million in crypto assets at one point, Voyager has seen a steady outflow of funds since enabling withdrawals on June 23rd, resulting in a 39.46% decrease in its crypto portfolio. However, recent data shows that Voyager currently holds $176.38 million worth of crypto, and customers are set to recover approximately 36% of their cryptocurrency deposits. Let’s delve into the details of Voyager’s situation and its path towards customer recovery. 
 Reduced Crypto Portfolio and Current Holdings: 
 Following the withdrawal option availability, Voyager has witnessed a steady outflow of funds, resulting in a shrinkage of its crypto portfolio. Currently, the company holds $176.38 million worth of crypto, including $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, among other assets. The company’s Clean Asset ratio, excluding its native token VGX, stands at 96.15%, and it maintains a stablecoin balance of nearly $19 million. 
 Approval of Liquidation Plan: 
 In May of this year, United States Bankruptcy Judge Michael Wiles approved Voyager’s proposed liquidation plan. This decision enabled the company to compensate its customers with approximately $1.33 billion in crypto assets and put an end to its efforts to reorganize under Chapter 11 bankruptcy. As a result, customers can expect to recover around 36% of their cryptocurrency deposits. 
 Gemini’s Role in Customer Recovery: 
 In a recent development, Gemini announced its involvement in facilitating withdrawals for victims of the Voyager bankruptcy case. This move provides an additional avenue for affected customers to recover their assets. The involvement of reputable exchanges like Gemini is likely to instill confidence in customers and offer them a reliable process for asset retrieval. 
 Impact of Three Arrows Capital and Failed Recovery Deals: 
 Voyager’s financial difficulties can be traced back to the collapse of Three Arrows Capital (3AC), a crypto hedge fund led by Zhu Su, which defaulted on a $665 million loan from Voyager. This event significantly affected Voyager’s financial stability. Despite subsequent attempts at recovery deals with FTX and Binance, both deals fell through, exacerbating Voyager’s financial woes. 
 Voyager, the bankrupt crypto lender, is gradually working towards compensating its customers amid challenging circumstances. Despite experiencing significant losses and a reduction in its crypto portfolio, Voyager currently holds $176.38 million worth of crypto assets. Customers can expect to recover approximately 36% of their cryptocurrency deposits, and the involvement of Gemini in facilitating withdrawals provides a positive outlook for customer recovery efforts. While Voyager’s financial difficulties have been substantial, these recent developments offer hope for affected customers seeking to retrieve their assets. 
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 The post <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in/voyager-takes-steps-towards-customer-recovery-amid-bankruptcy/">Voyager Takes Steps Towards Customer Recovery Amid Bankruptcy</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.
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Voyager Takes Steps Towards Customer Recovery Amid Bankruptcy

ItsBitcoinWorld

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