Declaring its bankruptcy, crypto loan company Voyager transferred its digital assets to Coinbase to meet its obligations.
The Singapore-based company transferred 1500 ETH worth $2 million 700 thousand and 250 billion SHIB worth $2 million 700 thousand to Coinbase today.
Voyager is currently working to begin the process of reimbursing the assets of its users. Recent transactions suggest that the company may launch payments soon. The company will distribute the funds obtained by converting the assets remaining after the bankruptcy into dollars, but users will not be able to receive all their assets in the first phase. First, 35 percent of the assets in the accounts will be paid. The balance payment will depend on the outcome of the pending litigation.
According to data provided by Arkham, Voyager has $81 million worth of cryptocurrency in his possession. The company will remove them in a phased manner in the coming times.
Voyager had 3.5 million users at its peak. Most of these users had balances of less than $10,000.
In 2022, when companies such as Terra Luna, Celsius, BlockFi, 3AC and FTX went bankrupt one after the other, Voyager also waved the bankruptcy flag. The platform officially filed for bankruptcy in July 2022. Meanwhile, Binance agreed to buy Voyager for $1 billion in the future, but later terminated the deal.
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