Voyager Asks Bankruptcy Judge to Honor $350M Withdrawal Request

Voyager is seeking to honor a withdrawal request for $350 million.

Voyager Digital has asked bankruptcy judge’s permission to honor withdrawal requests for $350 million held on behalf of its clients at a custodian bank.

[{"selector":"#anim-0e7814c2-a143-4fb5-89b3-52df9eac385f","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3085674e-9cb0-4d75-9c33-3c15be2f4922","keyframes":{"transform":["translate3d(-93.66337%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

“The debtors have determined, in their business judgment, that failure by the debtors to honor withdrawals any longer could materially harm customer morale during these Chapter 11 cases,” court filing stated.

[{"selector":"#anim-6b6f9af5-f337-41cf-a84d-f2d7e89463b5","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3d944def-b956-4052-a323-1c5d92f0b2f0","keyframes":{"transform":["translate3d(-90.17682%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-81fe92c5-bdb3-45f2-b7be-1f9f51d56be9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.68358605944168%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

Voyager Digital previously revealed that it held more than $350 million in a ‘For Benefit of Customers’ (FBO) account at Metropolitan Commercial Bank.

[{"selector":"#anim-d32177a2-8d64-4057-9f06-452e7d5b10dc","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f973064b-4a04-4a42-95ec-84753d7cf342","keyframes":{"transform":["translate3d(-93.85246%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

In its court filing Voyager revealed that it holds about $1.3 billion worth of crypto assets on the platform.

[{"selector":"#anim-c9a7f0cb-9247-438e-9642-041d9061c8c2","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6729b6b3-c76c-45b2-baa0-caf2665e171e","keyframes":{"transform":["translate3d(-80.5147%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The crypto firm, in the same court filings, also asked for authorization to carry out other financial actions.

[{"selector":"#anim-5c4e7a49-9af5-45e4-bd7a-900146b7dc43","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-529dbb41-2952-475b-a48a-568e549e98be","keyframes":{"transform":["translate3d(-92.82787%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Voyager said it has claims against Three Arrows Capital exceeding $650 million.

[{"selector":"#anim-49837f77-9d4a-4fb1-96b2-67019b68b33d","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c56b1df8-6837-4875-bd29-648e644f5f35","keyframes":{"transform":["translate3d(-93.85246%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Voyager Digital filed for a Chapter 11 bankruptcy on June 6 due to the ongoing crypto crash.

[{"selector":"#anim-505d9cea-9565-491c-ad95-7078a7aca27f","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-27403f13-0b93-493e-bd66-b6eaa9d9777d","keyframes":{"transform":["translate3d(-92.21312%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f17d2cba-38e7-43bc-bc65-f262e0be898d","keyframes":{"transform":["translate3d(-205.26319%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-26adb000-da49-4900-a16b-f1335d8130e5","keyframes":{"transform":["rotateZ(-180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] More Crypto Stories...