Crypto lender Voyager Digital said Wednesday that customers will soon recover about 35% of their cryptocurrency deposits as the company winds down operations after a failed buyout attempt by crypto exchange Binance.US.
Voyager customers' recovery hopes depend largely on the outcome of litigation with FTX, which is seeking toIf Voyager fully prevails in the FTX litigation, customers' expected recovery would rise to 63.74%, according to Voyager's court filings.
Voyager intends to repay customers with the same type of cryptocurrency they had in their accounts. For deposits held in unsupported cryptocurrencies that cannot be withdrawn from Voyager's platform and for Voyager's proprietary VGX token, Voyager will instead repay customers using the stablecoin USDC.to file for bankruptcy in 2022 after a boom in the COVID-19 pandemic. Others were Celsius Network, BlockFi, and Genesis Global Capital.
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