Voyager Digital files for bankruptcy

1 min read
Voyager Digital files for bankruptcy

US-based cryptocurrency brokerage Voyager Digital announced that it has filed for bankruptcy.

Voyager Digital files for bankruptcy

In the statement made by the company, it was noted that the debt restructuring process was initiated in accordance with Chapter 11 of the US Bankruptcy Code.

In this process, it was stated that the company has over 110 million dollars in cash and crypto assets that will provide liquidity to support daily operations, and that it is aimed to pay employees as usual and to continue certain customer programs without interruption.

Voyager Senior Executive Stephen Ehrlich, who was quoted in the statement, stated that comprehensive restructuring is the best way to protect the assets on the platform and maximize value for all stakeholders, including customers.

Ehrlich emphasized that the volatility in the cryptocurrency markets in the last few months and the default of crypto investment fund Three Arrows Capital required Voyager Digital to take conscious and decisive steps.

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