Voyager (VGX) – See the Reality

Voyager Digital is reportedly planning to liquidate 38 cryptocurrencies sooner or later

Seethereality — Wed, 10 May 2023 18:08:48 +0000

Voyager Digital is reportedly planning to liquidate 38 crypto property.
The main points have been shared by cryptocurrency entrepreneur Joshua Jake.
Jack. Among the 38 cryptocurrencies embrace ALGO, ATOM, AVAX, WAVES, LUNA and extra.

Voyager Digital is reportedly planning to liquidate 38 cryptocurrencies. Cryptocurrency entrepreneur Joshua Jake shared the warning.

In line with the screenshot shared by Jake, the property might be liquidated on or after the “Efficient Date”. The token checklist can be talked about within the screenshot. Full checklist contains $ALGO, $ATOM, $AVAX, $BTT, $CAKE, $CELO, $CKB, $DGB, $DOT, $EGLD, $EOS, $FIL, $FLOW, $HBAR, $ICP, $ICX , $IOTA, $KAVA, $KSM, $LUNA, $LUNC, $INFO, $ONT, $OP, $OTUM, $RAY, $ROSE, $SOL, $TRX, $IVET, $WAVES, $XLM, $ XMR, $XTZ, $XVG, $ZEC and $ZEN.

The listed cash are prone to liquidation as a result of they aren’t supported by Voyager. The screenshot shared by Jake was taken from a significant replace that Voyager shared on Could eighth for the preliminary buyer restoration.

In line with the report, the estimated preliminary restoration quantity for the shopper’s declare is 35.72 %. You will need to notice that that is solely an estimate and the precise restoration proportion could differ vastly. Initially, prospects will obtain refunds in supported cash, USDC for unsupported cash and VGX. Alternatively, prospects can select to obtain money.

Voyager additionally talked about the checklist of cash supported on the platform. The platform additionally talked about the withdrawal window for any cryptocurrencies and different incessantly requested questions, together with what occurs to VGX, why customers cannot get all their cryptocurrencies, and so on.

Moreover, Voyager talked about that if customers need to obtain their preliminary refund in US {dollars} solely, they need not take any further steps. In addition they said that on the finish of the 30-day crypto withdrawal window, their account might be liquidated and they are going to be given US {dollars}. Voyager additionally talked about that this may be finished through examine or potential ACH withdrawal.

Bankrupt Voyager unveils $1.3 billion restoration plan to collectors

Seethereality — Tue, 09 May 2023 16:27:01 +0000

Voyager Digital unveils its $1.33 billion USD restoration plan after chapter submitting.
The corporate’s chain stability is 141 million. USD of stablecoins and 28 mln. USD meme cash.
Its stability is predicted from BTC, ALGO, DOGE, DOT and ADA.

Voyager Digital, a cryptocurrency dealer that can launch in 2022 filed for chapter in July, introduced a restoration plan calling for the corporate to liquidate its belongings and return revenue to collectors.

Tom Wan, a researcher at analytics agency 21.co, shared particulars of the cryptocurrency dealer’s restoration plan, stating that the whole belongings to be recovered are $1.33 billion. USD.

In response to the restoration plan, Voyager’s On-Chain Stability contains 141 million USD stablecoins, 90 mln. USD Ethereum (ETH), 9 million USD Voyager Token (VGX) and 60 mln. USD of altcoins, of which 28 million USD is in meme coin Shiba Inu. (SHIB). Lastly, the corporate has roughly 569 million. USD money through USDC issuer Circle.

Nonetheless, it’s anticipated that the remaining 461 million The USD stability will likely be a mix of money, Bitcoin (BTC) and different cash corresponding to Cosmos (ATOM), Algorand (ALGO), Dogecoin (DOGE), Web Laptop (ICP), Polkadot . (DOT) and Cardano (ADA).

Whereas Voyager plans to make use of the funds to repay its collectors, the choice is topic to chapter court docket approval. Nonetheless, the restoration plan was obtained positively by the cryptocurrency group, with affected customers hoping for fast compensation.

Just lately, Binance.US, a subsidiary of the biggest cryptocurrency trade Binance, terminated its settlement to amass the bankrupt cryptocurrency dealer Voyager Digital Holdings Ltd. The transfer comes lower than every week after federal regulators shot down efforts to dam the deal in court docket.

In an announcement, a Binance spokesperson complained concerning the hostile and unsure regulatory local weather in the USA, saying it has created an unpredictable working surroundings that impacts all the American enterprise group.

Binance US abandons $1 billion acquisition of Voyager

Seethereality — Wed, 26 Apr 2023 10:03:21 +0000

Binance US has canceled a $1 billion deal to amass the belongings of bankrupt cryptocurrency lender Voyager Digital.
Voyager Digital initiates self-liquidation and distributes remaining belongings on to clients.
Binance’s native cryptocurrency BNB noticed a 0.22% drop following the termination information.

In keeping with a letter despatched by Binance US to defaulting crypto lender Voyager Digital, $1 billion. USD deal to purchase Voyager belongings has been terminated. Voyager introduced the event in a Twitter thread, indicating its intention to provoke self-liquidation below a Chapter 11 plan.

Binance US defined the termination in a press release on Twitter, saying that “the hostile and unsure regulatory local weather in the USA has created an unpredictable working atmosphere that impacts your complete American enterprise group.” The transfer comes every week after US federal regulators halted efforts to dam the deal by way of a court docket order.

In an interview, Commodity Futures Buying and selling Fee (CFTC) Commissioner Kristin Johnson mentioned the CFTC has not dominated out resolving its criticism towards Binance and hopes to discover a “path ahead” with the alternate. The termination could also be tied to an imminent settlement within the case introduced by the CFTC towards Binance. Nevertheless, Binance CEO Changpeng Zhao neither confirmed nor denied these potentialities.

Below a court-approved reorganization plan, Voyager Digital will now permit clients to obtain money or cryptocurrencies by way of a “change choice” on its platform. Beforehand, the acquisition of Binance.US would permit Voyager clients to get better as much as 73% of their funds, however that quantity may very well be lowered to 48% if FTX and Alameda Analysis had been to settle the lawsuits.

The Committee of Unsecured Collectors expressed excessive displeasure with the choice and mentioned it was contemplating taking authorized motion towards Binance. Within the meantime, the committee and Voyager are specializing in self-liquidation below the plan’s “change choice.”

Following the information of the shutdown, Binance cryptocurrency BNB fell 0.22% within the hour and is presently buying and selling at $337 with a market cap of round $52 billion.

Binance US $1 billion Voyager acquisition cleared by courtroom

Seethereality — Fri, 21 Apr 2023 11:42:36 +0000

A New York district courtroom has accepted Binance’s billion-dollar deal to accumulate Voyager.
Voyager’s UCC beforehand had an settlement with the US authorities. resolve any disputes and permit the transaction to happen.
The deal is lastly closing after dealing with quite a few hurdles from regulators and the Division of Justice.

Binance’s American unit is ready to accumulate Voyager Digital after a New York District Courtroom accepted a $1 billion deal earlier at present. The approval of Binance US to take over the belongings of the bankrupt crypto lender comes greater than 4 months after the plan was introduced final December.

Voyager’s official committee of unsecured collectors took over Twitter earlier at present to share information of the affirmation. “Earlier this afternoon, the district courtroom entered an order approving the settlement,” the committee tweeted. The settlement talked about within the tweet got here simply two days earlier than the courtroom accepted it.

in 2022 In December, Binance US supplied $1.02 billion. Inside two weeks of the supply, the US Securities and Alternate Fee (SEC) filed an objection to the deal, questioning Binance US’s means to finance the acquisition.

A federal choose allowed Binance US to accumulate Voyager Digital on March 7 regardless of the SEC’s try to dam the deal, citing potential violations of securities legal guidelines. Nevertheless, the US Division of Justice filed an emergency utility to cease the deal on March 17. , alleging that the transaction may result in potential fraud or tax evasion.

April 19 Voyager and its Unsecured Collectors Committee (UCC) reached a settlement with the US federal authorities to proceed with the acquisition. “The decision features a basic clause offering that appeals will proceed to be filed towards the termination of the plan,” the UCC stated.