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Bankrupt Voyager to Liquidate Assets Following Failed Sale to Binance.US

2 mins
Updated by Ryan James
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In Brief

  • Voyager would wind down its operation and liquidate its asset, according to a court filing.
  • Voyager creditors could recover 64% of their assets if Alameda Research's claw back effort fails.
  • Voyager VGX token is down 8% in the last 24 hours
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Bankrupt crypto lender Voyager Digital will wound down its operations and liquidate its asset following failed attempts to sell them.

The bankrupt lender said its customers would get 36% of their assets. Voyager said customers with supported crypto holdings, like Bitcoin and Ethereum, can directly withdraw the allocated percentage.

Voyager Users won’t be Made Whole

Those with unsupported tokens, like Solana, would be repaid in USDC after the liquidation.

The 36% recovery rate is meager compared to the estimated 70% that Celsius creditors will get. If the deal with Binance.US or FTX were successful, the creditors would have recovered over 70% of their assets.

Voyager Creditors Recovery
Voyager Estimated Recovery (Source: Court Filing)

Bankrupt Lenders’ Creditors Recovery Could Rise to 64% if Alameda Claw Back Effort Fails

Meanwhile, Voyager creditors could still recover 64% of their assets if Alameda Research’s effort to claw back $446 million from the firm fails.

Hypothetical Voyager Customer Assets
Hypothetical Voyager Customer Assets (Source: Court Filing)

Alameda Research is the sister company of the bankrupt crypto exchange FTX. The FTX liquidators claim that the firm repaid its loans after filing for bankruptcy, adding that some loans were yet to mature.

However, Voyager argues against the claim and wants the court to rule that they were “avoidable preferential transfers.”

But the liquidation plan is not final yet. Interested parties could still file an objection before May 15 at the US Bankruptcy Court of the Southern District of New York.

Voyager Digital’s Failed Sales Attempt

Before filing for liquidation, Voyager had made two attempts to sell its assets to crypto exchanges, Binance.US and FTX.

On April 25, Binance.US withdrew from the deal, citing the hostile regulatory environment. Initially, the deal had drawn heavy pushback and was temporarily halted at some point. At the time, a spokesperson for the exchange said:

“The hostile and uncertain regulatory climate in the United States has introduced an unpredictable operating environment impacting the entire American business community.”

Before Binance US, FTX had agreed to acquire the crypto lending firm. But that deal fell through when FTX filed for bankruptcy in November 2022.

VGX Fall More Than 7%

Voyager Token (VGX) has fallen more than 7% in the last 24 hours to $0.1855, according to BeInCrypto data.

VGX Price Performance
VGX Token (Source: BeInCrypto)

Since Voyager filed for bankruptcy, VGX has fallen from over $1 to its current levels, with its market cap declining to around $50 million from a peak of over $300 million.


In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

Oluwapelumi Adejumo
Oluwapelumi believes Bitcoin and blockchain technology have the potential to change the world for the better. He is an avid reader and began writing about crypto in 2020.