{"id":13171,"date":"2022-07-07T02:07:33","date_gmt":"2022-07-07T02:07:33","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/voyager-filed-for-bankruptcy-amid-crypto-credit-disaster\/"},"modified":"2022-07-07T02:07:33","modified_gmt":"2022-07-07T02:07:33","slug":"voyager-filed-for-bankruptcy-amid-crypto-credit-disaster","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/voyager-filed-for-bankruptcy-amid-crypto-credit-disaster\/","title":{"rendered":"Voyager Filed for Bankruptcy Amid Crypto Credit Disaster"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Toronto-based crypto lender Voyager Digital on late Tuesday filed for bankruptcy and is thereby the second high-profile crypto firm to do so amidst market consolidation.<\/p>\n<p>Voyager filed for\u00a0<a href=\"https:\/\/cases.stretto.com\/public\/x193\/11753\/PLEADINGS\/1175307062280000000016.pdf\">Chapter 11 bankruptcy protections<\/a>\u00a0Tuesday in the Southern District of New York, noting it had more than 100,000 creditors and roughly between $1 and $10 billion in assets and liabilities.<\/p>\n<p>According to the filing <strong>\u201cfunds will be available for distribution to unsecured creditors.\u201d<\/strong><\/p>\n<p>Voyager joins Three Arrows Capital in its actions filing for bankruptcy. Three Arrows, though, filed a Chapter 15 petition tied to an ongoing liquidation effort mandated by a court in the British Virgin Islands.<\/p>\n<p>Voyager CEO, Steven Ehrlich said on\u00a0<a href=\"https:\/\/twitter.com\/Ehrls15\/status\/1544550255307493376\">Twitter<\/a>:<\/p>\n<blockquote>\n<p>\u201cCustomers with crypto in their account(s) will receive in exchange a combination of the crypto in their account(s), proceeds from the 3AC recovery, common shares in the newly reorganized Company, and Voyager tokens.\u201d<\/p>\n<\/blockquote>\n<p>Lenders have been facing solvency issues in recent weeks, a trend <a href=\"https:\/\/igaming.org\/crypto\/crypto-lending-firm-celsius-stops-withdrawals-markets-crash\/\">kicked off by Celsius<\/a> last month when it announced the suspension of withdrawals.<\/p>\n<p>Alameda Research, a\u00a0quant trading shop backed by Bankman-Fried, recently issued a line of credit to troubled crypto broker Voyager Digital (VOYG) for $200 million in cash\/USDC and 15,000 <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a>.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/igaming.org\/crypto\/voyager-filed-for-bankruptcy-amid-crypto-credit-disaster\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Toronto-based crypto lender Voyager Digital on late Tuesday filed for bankruptcy and is thereby the second high-profile crypto firm to do so amidst market consolidation. Voyager filed for\u00a0Chapter 11 bankruptcy protections\u00a0Tuesday in the Southern District of New York, noting it had more than 100,000 creditors and [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13171"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=13171"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13171\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/13172"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=13171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=13171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=13171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}