Thanks to the takeover plan proposed by crypto exchange FTX, Voyager Digital users could get back 72% of their funds stuck on the platform.
As a reminder, Voyager Digital is one of the victims of the bear market but especially of the investment fund Three Arrows Capital. Due to its exposure and inability to remedy it, the company filed for Chapter 11 bankruptcy in the Southern District Court of New York last July. What followed was a full-blown court battle, ultimately won by FTX US, in an effort to find a fair solution for all parties involved.
As a result, FTX, which took over the bankrupt crypto platform Voyager Digital, could allow Voyager’s users to recover 72% of their funds currently blocked by the bankrupt company, reports Bloomberg.
FTX, through its attorney Christine Okike, told Judge Wiles that its plan provides “the only viable alternative” for the company.