A US bankruptcy court sanctioned plans to liquidate bankrupt cryptocurrency lender Voyager Digital, allowing the company to end its Chapter 11 reorganization efforts. Judge Michael Wiles gave approval Wednesday during a hearing in Manhattan, according to court documents seen by
Reuters.
Tomorrow’s hearing on liquidation proceedings will go ahead because one of the creditors has submitted a letter to the court in response to the proceedings. We will provide another update after the hearing is over.
– Official Voyager Committee for Unsecured Creditors (VoyagerUCC) May 16, 2023
Lawyers for the cryptocurrency bank previously said that the company It will self-filter and shut down After Binance.US abandoned a $1 billion deal to buy the company’s assets. American arm of command
Cryptocurrency exchange
Cryptocurrency exchange
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or a digital asset. Compared to a generalized financial exchange, the primary function of a cryptocurrency exchange is to allow and encourage the buying and selling of cryptocurrencies. A stable and suitable trading environment for traders located in different locations around the world. Sometimes, a cryptocurrency exchange may be referred to as a Digital Currency Exchange (DCE).
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or a digital asset. Compared to a generalized financial exchange, the primary function of a cryptocurrency exchange is to allow and encourage the buying and selling of cryptocurrencies. A stable and suitable trading environment for traders located in different locations around the world. Sometimes, a cryptocurrency exchange may be referred to as a Digital Currency Exchange (DCE).
Read this term He did not give a specific reason for the decline but did allude to the “hostile and uncertain regulatory climate in the United States”.
https://t.co/AZwoBOgsqS He made the difficult decision to exercise his right to terminate the asset purchase agreement with Voyager.
While our hope throughout the process was to help Voyager customers gain access to their cryptocurrency in kind, the hostile and uncertain regulatory climate…
– Binance.US 🇺🇸 (BinanceUS) April 25, 2023
Voyager presented to bankruptcy
bankruptcy
Bankruptcy or insolvency is a legal term and refers to the inability to pay debts. Business and person can declare bankruptcy. When a person or company claims bankruptcy, it is described as voluntary bankruptcy, and when debtors force you into bankruptcy, it is referred to as involuntary bankruptcy. Voluntary bankruptcy occurs when the debtor or borrower, the party to whom the money is owed, goes to the courts. Involuntary bankruptcy occurs when your creditors petition the corporation
Bankruptcy or insolvency is a legal term and refers to the inability to pay debts. Business and person can declare bankruptcy. When a person or company claims bankruptcy, it is described as voluntary bankruptcy, and when debtors force you into bankruptcy, it is referred to as involuntary bankruptcy. Voluntary bankruptcy occurs when the debtor or borrower, the party to whom the money is owed, goes to the courts. Involuntary bankruptcy occurs when your creditors petition the corporation
Read this term Protection in July last year in the aftermath of the Terra-LUNA crash that gripped the global cryptocurrency industry. Prior to its collapse, the cryptocurrency lender sent a notice of default to Singapore-based Three Arrows Capital (3AC) over its failed payments on a crypto loan of more than $670 million. However, 3AC was also affected by the downturn in the market and was later ordered by a British Virgin Islands court to liquidate its assets.
Moreover, in September last year, the subsidiary of the US-based cryptocurrency exchange won a $1.4 billion deal to buy the assets of Voyager Digital. However, the deal collapsed the following month after FTX collapsed.
Voyager reveals customer refund expectations
Meanwhile, Voyager Digital said in its new court filing that it expects to recover about 35% of its customers’ cryptocurrency deposits in the wake of the planned liquidation.
Reuters Reports indicate that Judge Wiles’ approval of Voyager’s liquidation allows the bankrupt cryptocurrency lender to return about $1.33 billion in crypto assets to its customers.
On the other hand, while FTX continues its efforts to recover assets, the bankrupt cryptocurrency exchange is also seeking to recover about $445.8 million in loan payments made to Voyager before its demise. Voyager winning the lawsuit could mean a higher refund rate of 63.74% for its customers, as the court filing shows.
Crypto advertising bases started in Belgium; FINMA business; Read snippets of today’s news.
A US bankruptcy court sanctioned plans to liquidate bankrupt cryptocurrency lender Voyager Digital, allowing the company to end its Chapter 11 reorganization efforts. Judge Michael Wiles gave approval Wednesday during a hearing in Manhattan, according to court documents seen by
Reuters.
Tomorrow’s hearing on liquidation proceedings will go ahead because one of the creditors has submitted a letter to the court in response to the proceedings. We will provide another update after the hearing is over.
– Official Voyager Committee for Unsecured Creditors (VoyagerUCC) May 16, 2023
Lawyers for the cryptocurrency bank previously said that the company It will self-filter and shut down After Binance.US abandoned a $1 billion deal to buy the company’s assets. American arm of command
Cryptocurrency exchange
Cryptocurrency exchange
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or a digital asset. Compared to a generalized financial exchange, the primary function of a cryptocurrency exchange is to allow and encourage the buying and selling of cryptocurrencies. A stable and suitable trading environment for traders located in different locations around the world. Sometimes, a cryptocurrency exchange may be referred to as a Digital Currency Exchange (DCE).
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or a digital asset. Compared to a generalized financial exchange, the primary function of a cryptocurrency exchange is to allow and encourage the buying and selling of cryptocurrencies. A stable and suitable trading environment for traders located in different locations around the world. Sometimes, a cryptocurrency exchange may be referred to as a Digital Currency Exchange (DCE).
Read this term He did not give a specific reason for the decline but did allude to the “hostile and uncertain regulatory climate in the United States”.
https://t.co/AZwoBOgsqS He made the difficult decision to exercise his right to terminate the asset purchase agreement with Voyager.
While our hope throughout the process was to help Voyager customers gain access to their cryptocurrency in kind, the hostile and uncertain regulatory climate…
– Binance.US 🇺🇸 (BinanceUS) April 25, 2023
Voyager presented to bankruptcy
bankruptcy
Bankruptcy or insolvency is a legal term and refers to the inability to pay debts. Business and person can declare bankruptcy. When a person or company claims bankruptcy, it is described as voluntary bankruptcy, and when debtors force you into bankruptcy, it is referred to as involuntary bankruptcy. Voluntary bankruptcy occurs when the debtor or borrower, the party to whom the money is owed, goes to the courts. Involuntary bankruptcy occurs when your creditors petition the corporation
Bankruptcy or insolvency is a legal term and refers to the inability to pay debts. Business and person can declare bankruptcy. When a person or company claims bankruptcy, it is described as voluntary bankruptcy, and when debtors force you into bankruptcy, it is referred to as involuntary bankruptcy. Voluntary bankruptcy occurs when the debtor or borrower, the party to whom the money is owed, goes to the courts. Involuntary bankruptcy occurs when your creditors petition the corporation
Read this term Protection in July last year in the aftermath of the Terra-LUNA crash that gripped the global cryptocurrency industry. Prior to its collapse, the cryptocurrency lender sent a notice of default to Singapore-based Three Arrows Capital (3AC) over its failed payments on a crypto loan of more than $670 million. However, 3AC was also affected by the downturn in the market and was later ordered by a British Virgin Islands court to liquidate its assets.
Moreover, in September last year, the subsidiary of the US-based cryptocurrency exchange won a $1.4 billion deal to buy the assets of Voyager Digital. However, the deal collapsed the following month after FTX collapsed.
Voyager reveals customer refund expectations
Meanwhile, Voyager Digital said in its new court filing that it expects to recover about 35% of its customers’ cryptocurrency deposits in the wake of the planned liquidation.
Reuters Reports indicate that Judge Wiles’ approval of Voyager’s liquidation allows the bankrupt cryptocurrency lender to return about $1.33 billion in crypto assets to its customers.
On the other hand, while FTX continues its efforts to recover assets, the bankrupt cryptocurrency exchange is also seeking to recover about $445.8 million in loan payments made to Voyager before its demise. Voyager winning the lawsuit could mean a higher refund rate of 63.74% for its customers, as the court filing shows.
Crypto advertising bases started in Belgium; FINMA business; Read snippets of today’s news.