Bankrupt crypto lender – Voyager – is slowly working towards making customers whole.
Voyager held nearly $413 million in multiple crypto-assets at one point. However, since enabling withdrawals to users on June 23rd, it has recorded a steady stream of outflow totaling $250 million worth of crypto assets. As a result, Voyager’s crypto portfolio has shrunk by 39.46%.
According to the data compiled by Dune Analytics, Voyager currently holds $176.38 million worth of crypto. This includes $69,02 million in Bitcoin, $50,99 million in Ether, $18,56 million worth of USDC, $15,70 million worth of SHIB, and $2,46 million MATIC, among others.
The bankrupt firm has a Clean Asset ratio of 96.15% (excluding its native token VGX) and sits at a stablecoin balance of nearly $19 million.
The United States Bankruptcy Judge Michael Wiles greenlighted Voyager’s proposed liquidation plan in May this year.
The move enabled the crypto lender to compensate about $1.33 billion in crypto assets to customers and end its efforts to reorganize under Chapter 11.
Voyager soon announced that customers will be able to recover around 36% of their cryptocurrency deposits.
More recently, Gemini announced that it would be allowing withdrawals for victims of the Voyager bankruptcy case.
The firm had been crippled by the implosion of Zhu Su-led crypto hedge fund Three Arrows Capital (3AC) last year, which had earlier defaulted on a $665 million Voyager loan.
It later suffered two failed recovery deals from FTX and Binance.
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