Yeah it looks like this- Dear Fairly-Hard Earlier today, we began a restructuring process aimed at strengthening Voyager Digital’s financial position. To accomplish this goal, the company and its main operating subsidiaries voluntarily filed for Chapter 11 protection. Given the confidence you placed in Voyager when you joined the platform, we know this may be disconcerting news. To that end, we want you to know that we made these decisions specifically to protect and maximize the value of the assets on the platform for all stakeholders, including you, our customers, who remain our focus. To be clear: This does NOT mean Voyager is going out of business. The restructuring process is intended to help companies stay in business, which is exactly what we intend to do. Being able to continue operations is a key benefit of a restructuring, a well-established legal process through which companies reorganize their financial obligations. In the meantime, we are continuing discussions with various parties regarding the company’s go-forward strategy. Voyager was created with the idea that investors deserve a platform that provides access to crypto assets with simplicity, speed, liquidity, and transparency. While we strongly believe in this future, the prolonged volatility and contagion in the crypto markets over the past few months, and the default of Three Arrows Capital (“3AC”) on a loan from Voyager, made this course of action necessary. Through this process, we intend to create an efficient path to resume account access and return value to customers. We are also pursuing all available remedies for recovery from 3AC, including through the court-supervised processes in the British Virgin Islands and New York. The proposed Plan of Reorganization (“Plan”) would, upon implementation, resume account access and return value to customers. Under this Plan, which is subject to change given ongoing discussions with other parties, and requires Court approval, customers with crypto in their account(s) will receive in exchange a combination of the crypto in their account(s), proceeds from the 3AC recovery, common shares in the newly reorganized Company, and Voyager tokens. The plan contemplates an opportunity for customers to elect the proportion of common equity and crypto they will receive, subject to certain maximum thresholds. Customers with USD deposits in their account(s) will receive access to those funds after a reconciliation and fraud prevention process is completed with Metropolitan Commercial Bank. The Company continues to evaluate all strategic alternatives to maximize value for stakeholders. We understand this unexpected news may create both concern and uncertainty. Additional information about our path forward can be found in our press release and blog post. Information on the restructuring, including relevant court filings, is available at https://cases.stretto.com/Voyager, or by calling +1 (855) 473-8665 (U.S. toll-free) or +1 (949) 271-6507 (international). We’ve worked hard to share everything we can at this point; you have our commitment that we will keep you updated. Regards, Team Voyager
I have not tried getting any money out of them. I only had a couple grand in there to begin with and it isn't worth more than a few hundred now. Not even sure i can get that?
So I started Buying today. Not using Voyager. Using Coinbase at this point. I'm going to start buying both Bitcoin and Ethereum and holding. Going to amass as much as possible this year. My thinking is we have 9-15 months of this downturn. The metrics say it can go a little lower but probably will not fall much more than 10-15%. Most likely we will see bumps up and down for the next year and then the whole market will rise again. My advice is do not put anything in crypto you need this next year. Buy and Hold!
I left a few hundred in ApeCoin in there since I don't have another way of buying. I'm just guessing its gone, there will be a lawsuit and we'll all get a check for $40.
I'm just letting Voyager work this out as well. If it's gone it's gone. I have one full Ether coin there and about 2-300 in Shib and StormX each left. At this point i don't think i can get it?
Just wait to see when they allow trading/transfers. I'm not sure they will as there will be a bank run and they probably don't have funds on hand to cover.
They don't. They need someone to step up and cover. Right now i can see they are probably hat in hand looking for someone to step in.
Riding a one month high right now. Still negative overall, but should I get out now? Nawww, let it ride. How did the whole voyager debacle work out for everyone?
I pulled out most of my money no problem. I have a little bit in there, who knows whats gonna happen to it.
Voyager is a mess! They just sent me a notice that I may now start pulling US dollars out but of course I still have to try to sell my holdings through them. This is pretty ugly.
