Posted by • Voyager Digital, a bankrupt crypto lender, has reached an important milestone in its bankruptcy proceedings as the UCC approved its customer reimbursement calculation plan.
• Users can receive about 35% of their deposits on the platform from June 1, 2023.
• The collapse of Binance’s takeover deal with Voyager has caused creditors to become impatient.
Voyager Digital Reaches Milestone in Bankruptcy Proceeding
Voyager Official Committee of Unsecured Creditors (UCC) recently announced that the court has approved the firm’s liquidation procedures giving victims of Voyager Digital a glimmer of hope. The crypto lender reached an important milestone in its bankruptcy proceedings as it was approved by the UCC for customer reimbursement calculation plan.
Reimbursement Plan for Customers
Users can now receive around 35% of their deposits on the platform from June 1, 2023. Updates will be released as they become available and any distribution beyond 35% is subject to further approval by the court. Before this announcement, Binance US had backed out from a $1 billion takeover deal due to regulatory uncertainties in the country which had caused creditors to become impatient over this matter.
VGX Token Price Update
At the time of writing, Voyager’s native VGX token is exchanging hands for $0.151963 representing an increase of 1.0% in the last 24 hours. Despite this news, affected users have voiced their displeasure over the debacle and are still awaiting more updates from Voyager Digital regarding their funds reimbursement plans.
Risks Involved
It is worth noting that investments related to digital assets involve high-risk speculation and volatility may result in significant losses for investors who do not exercise caution when investing or trading these assets. Therefore before investing, it is advised to go through all necessary research and use proper risk management strategies when dealing with cryptocurrencies or other digital assets such as Bitcoin or Ethereum etc…
Conclusion
Despite some delays and setbacks along the way, Voyager digital has finally made progress towards reimbursing its customers’ funds partially starting June 1st after receiving approval from a US bankruptcy judge for its calculation plan .