The company began bankruptcy proceedings in early July. It continues to operate as it restructures to pay off creditors.
The bankruptcy court in New York approved the refund of funds to the clients of the Voyager crypto lender. At the moment, the company's depository account at Metropolitan Commercial Bank (MCB) holds $270 million, writes The Wall Street Journal.
The Voyager platform announced on July 1 the temporary suspension of trading, deposits and withdrawals, and on July 5 filed for bankruptcy "under Chapter 11" in a New York court. This means reorganizing the firm, if possible, to maintain control over its operations under judicial supervision.
Now the court must decide what will happen to cryptocurrencies worth over $1 billion that remain on the Voyager platform.
At the end of July, the company rejected the offer of the FTX Trading Ltd. exchange and its investment division Alameda Ventures Ltd. about the redemption of their digital assets. Voyger lawyers argue that the offer could potentially harm its clients.
