Voyager Digital, which recently went bankrupt, received bankruptcy court approval to return $270 million in customer cash.
It turned out that the CEO of Voyager sold millions of shares at a price close to the peak before the company went bankrupt. Then, the cryptocurrency firm Voyager Digital Holdings Inc., which has been grappling with bankruptcy filings, tries to resolve its post-bankruptcy issues.
Voyager Returns Ready
Michael Wiles, the US Bankruptcy Court Judge in New York, who oversaw Voyager’s bankruptcy, ordered the company to allow customers access to the account held at the Metropolitan Commercial Bank (MCB). The bank states that Voyager had approximately $270 million in its account when it filed for bankruptcy.
When the first application was filed, court documents stated that the amount in Voyager’s bank account was approximately $350 million. Account keeper Metropolitan Commercial Bank told the Journal that Voyager had approximately $270 million in its account when it filed for bankruptcy.
Despite the MCB being able to return the money to customers with the approval, the court has yet to make a decision on what will happen to the more than $1 billion in crypto assets on Voyager’s platform.
5773
