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After 3AC bankruptcy Voyager Digital files for bankruptcy

 


After crypto lending provider Voyager Digital announced just a week ago that it would suspend trading, deposits, withdrawals and the rewards program for the time being , the company has now filed for bankruptcy.

The lending service initiated corresponding bankruptcy proceedings in a New York court under the so-called Chapter 11 Code.

This type of insolvency means that reorganization and restructuring measures are taken. These should lead to a plan on how the company can best satisfy its creditors.

According to its own statements, Voyager Digital holds approximately $1.3 billion worth of crypto assets on its platform. His claims against 3AC are said to be over $650 million. It also has more than $350 million in an account with the Metropolitan Commercial Bank.

"This major overhaul is the best way to protect the platform's assets and maximize value for all stakeholders, including customers," said Stephen Ehrlich, CEO of Voyager Digital in a statement .

In particular , the bankruptcy of the hedge fund Three Arrows Capital (3AC) also led to financial bottlenecks at Voyager Digital. According to the official report, 3AC owes the lending provider over 15,000 BTC and 350 million USDC.

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