- Voyager Digital’s bankruptcy plan has been approved, enabling users to reclaim 35% of their cryptocurrency deposits.
- Any further distribution beyond 35% is contingent on the results of future litigations.
- The development highlights the inherent risks in the crypto lending industry, reminding investors to tread with caution.
In a recent turn of events, Voyager Digital, a bankrupt lending platform, received approval from a US bankruptcy judge for its calculation plan. This move signifies a partial relief for its users. They can now retrieve about 35% of their cryptocurrency deposits.
This return amounts to a total of $1.334 billion. Such a high sum illustrates the platform’s previous reach. This also points to the extent of the damage that the bankruptcy has inflicted on the users.
The release of the funds will take place before June 1. However, the possibility of a distribution beyond the 35% mark is still uncertain. It largely depends on the outcomes of future litigation processes.
Earlier, the acquisition of Binance US faced disagreement from the U.S. Department of Justice. This news has been a part of a series of upheavals in the crypto sector.
The Voyager Digital case underscores the volatility and risks inherent in the crypto lending industry. It serves as a reminder for investors to exercise caution. It’s always crucial to consider the risks involved before diving into any investment.
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