TechFlow News, May 18 — Voyager Digital's liquidation plan has been approved, allowing for the return of approximately $1.33 billion in crypto assets to customers, representing 35% of total customer deposits. The plan administrator will take over the liquidating debtors.
Additionally, the Voyager Unsecured Creditors Committee (UCC) stated: "We are working with Voyager to effectuate this liquidation plan as soon as possible—potentially as early as May 19. Once the plan takes effect, the committee will dissolve and the plan administrator will assume control of the liquidating debtors. We are still striving to distribute initial recoveries by June 1."
Voyager customers' asset recovery largely depends on the outcome of litigation against FTX. If successful, the expected recovery rate for customers could reach 63.74%.
Voyager will repay customers using the same type of cryptocurrency originally deposited. For unsupported cryptocurrencies and Voyager’s proprietary VGX token, repayments will be made in the stablecoin USDC.
