Voyager joins Three Arrows Capital in filing for bankruptcy. Three Arrows, however, filed a Chapter 15 petition tied to an ongoing liquidation effort ordered by a court in the British Virgin Islands., Voyager’s loan book accounted for nearly half of its total assets, and nearly 60% of that loan book was composed of loans to Three Arrows.
While FDIC insurance would indeed protect bank-held cash deposits up to $250,000, it would not cover cash converted to stablecoins. Commentators including Coppola haveMoreover, the FDIC insurance kicks in in the event of a bank failure – in this case, Voyager was banked by Metropolitan Bank of New York. There is no protection in the event of a Voyager failure.According to the filing, Voyager Digital, Ltd.'s equity holders include Alameda Research Ventures LLC and Alameda Ventures Ltd.
Source: Loan Digest (loandigest.net)
nikhileshde realDannyNelson This is very depressing news, especially in the current situation.
nikhileshde realDannyNelson That’s two failed crypto projects by Mark Cuban. I had a terrible experience with Voyager. I mentioned I would be surprised if they stayed in business another six months. That was in December. Close! People have options now, focus on them or polish your resume.
nikhileshde realDannyNelson The market not dump yet 🤣
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lookner nikhileshde realDannyNelson They shouldn't allow going bankrupt.
nikhileshde realDannyNelson Could be a good thing in the long run. Doesn't mean they're going out of business. Chapter 11 is just a reorganizing of financial debts/assets... and possibly come out better afterwards.
nikhileshde realDannyNelson Can't imagine how many people lost their usdt this way
lookner nikhileshde realDannyNelson Non American…… peeps. If a company like coinbase or Gemini fail, perhaps then worry. But it ain’t a shock to see the non-American exchanges failing.
nikhileshde realDannyNelson
nikhileshde realDannyNelson I hope Ripple gonna file too and Brad goes to jail
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nikhileshde realDannyNelson No!
nikhileshde realDannyNelson Cookie crumbling fast.
nikhileshde realDannyNelson They filed three petitions: Voyager Digital Ltd is in Toronto, Voyager Digital Holdings is in NY, and Voyager Digital LLC is in NJ
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nikhileshde realDannyNelson Fuck lunch money gone
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nikhileshde realDannyNelson Hard landing to reality. High interests = risky investment
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nikhileshde realDannyNelson I guess that means what I have over there is gone now..
nikhileshde realDannyNelson May God continue to bless you and your family for all your hod deeds in my investment WINWITHCAMPBELL
nikhileshde realDannyNelson OMG wow ... unbelievable 🤯🤯
nikhileshde realDannyNelson JRNYcrypto
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