Voyager Digital

Last updated

Voyager Digital
Company type Private
Industry Hedge fund
Founded2018;7 years ago (2018)
DefunctJuly 5, 2022;3 years ago (2022-07-05)
Fate Liquidation
Headquarters New York
Website www.investvoyager.com

Voyager Digital was a cryptocurrency brokerage company founded in 2018. [1]

Contents

History

In June 2022, Voyager Digital announced that Three Arrows Capital had not repaid loans totaling $666 Million. [2]

On July 1, the company suspended “trading, deposits, withdrawals and loyalty rewards” [3] and subsequently on July 5, the company filed for Chapter 11 bankruptcy protection. [4]

Later in July, the Federal Reserve and the FDIC in a joint letter ordered the company to cease and desist from making false and misleading statements. [5]

In August, the company received approval from a judge to return $270 million in customer cash, which was locked up after the company’s bankruptcy filing in July. The money accounted for only a small portion of total investor funds. [6]

In September, Binance and FTX both made nearly $50 million bids for the company. [7] FTX would win the auction with a nearly $50 million bid. [8] [9] In November, FTX filed for bankruptcy and Voyager Digital had to find a new buyer. [10] A major investor in Voyager said that the collapse of FTX puts into jeopardy the company's bailout, with $1.3 billion of investor assets threatened. [11] Following the bankruptcy of FTX, the US subsidiary of Binance won the bid to buy the assets of Voyager for approximately $1 billion in December 2022. [12] The U.S. Securities and Exchange Commission (SEC) has filed a limited objection to Binance US's proposed $1 billion acquisition of bankrupt cryptocurrency lender Voyager Digital, a bankruptcy court filing showed in January 2023. [13]

References

  1. ↑ "Voyager Digital Begins Trading on Toronto Stock Exchange". NASDAQ.com. 20 September 2021.
  2. ↑ Huang, Vicky Ge (22 June 2022). "Crypto Broker Voyager Digital Says Three Arrows Capital Hasn't Repaid $666 Million in Loans". Wall Street Journal . Retrieved 15 March 2023.
  3. ↑ Huang, Vicky Ge (1 July 2022). "Crypto Broker Voyager Digital Suspends Withdrawals". Wall Street Journal . Retrieved 15 March 2023.
  4. ↑ Brown, Eliot; Wang, Yifan (6 July 2022). "Crypto Broker Voyager Digital Files for Bankruptcy Protection". Wall Street Journal . Retrieved 15 March 2023.
  5. ↑ Ackerman, Andrew (28 July 2022). "Bankrupt Crypto Brokerage Voyager Ordered to Cease False Promises About U.S. Banking Insurance". Wall Street Journal.
  6. ↑ Biswas, Soma (5 August 2022). "Voyager Digital Is Cleared to Return $270 Million to Customers". Wall Street Journal– via www.wsj.com.
  7. ↑ Vigna, Paul (20 September 2022). "Binance and FTX Make Top Bids for Bankrupt Lender Voyager". Wall Street Journal.
  8. ↑ Sebastian, Dave; Huang, Vicky Ge (27 September 2022). "FTX Wins Auction for Bankrupt Crypto Broker Voyager Digital's Assets". Wall Street Journal.
  9. ↑ "Crypto Firm Voyager Digital's Bankruptcy Plan Gets Court Hearing This Afternoon". WSJ.
  10. ↑ Biswas, Soma (12 November 2022). "Bankrupt Voyager Digital Looks for New Buyer After FTX Goes Under". Wall Street Journal– via www.wsj.com.
  11. ↑ Joyner, April. "A Voyager investor says the FTX meltdown puts the bankrupt crypto lender's bailout in jeopardy, with $1.3 billion of customer assets on the line". Business Insider.
  12. ↑ Ge Huang, Vicky; Ostroff, Caitlin (19 December 2022). "Binance.US to Buy Assets of Bankrupt Crypto Lender Voyager, Eyes More Acquisitions". The Wall Street Journal.
  13. ↑ "SEC objects to Binance.US's deal to buy Voyager Digital". Reuters. 5 January 2023. Retrieved 30 September 2025.
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