Platform dossier
Voyager Digital
Crypto brokerage and yield/lending-related platform that suspended trading, deposits, withdrawals, and rewards in July 2022 after large exposure to Three Arrows Capital, then filed for Chapter 11 and entered a liquidation and customer recovery process.
What happened?
Voyager disclosed major exposure to Three Arrows Capital, suspended platform activity, filed for Chapter 11, pursued sale transactions that failed after FTX and Binance.US-related complications, and moved into a wind-down and distribution process.
Customer funds
Voyager moved into a direct recovery process after proposed sale paths failed. Recovery was partial and subject to estate assets and litigation recoveries.
Terms risk
Voyager terms and customer recovery should be upgraded with direct plan and distribution documents. Current record is conservative.
Uncertainty
Recovery details changed over time as sale efforts and litigation recoveries evolved. This seed should be upgraded with official wind-down and docket sources.
Timeline
Voyager developed as a crypto brokerage and yield-linked platform offering trading and rewards-related services.
Voyager suspended trading, deposits, withdrawals, and loyalty rewards after stress related to exposure to Three Arrows Capital.
Voyager Digital and affiliates filed for Chapter 11 bankruptcy protection shortly after the platform suspension.
Voyager announced an asset purchase agreement with FTX US, which later failed after FTX collapsed.
Voyager later announced a proposed Binance.US transaction, which also did not lead to a completed customer migration.
Voyager began an initial customer recovery process after sale paths failed and the estate moved toward direct distributions.
Evidence dossier
Voyager Digital / PR Newswire
Reuters
Reuters