The recent crypto crash cases of Bitcoin, Ethereum, and other stablecoins like Tether and Terra have created a panic situation among crypto investors in the unstable cryptocurrency market. Meanwhile, a leading cryptocurrency lender known as Voyager Digital has announced the bankruptcy filing with a mission to use it as a revival plan. Voyager Digital CEO, Stephen Ehrlich, has high hopes that there will be a strong comeback of the cryptocurrency lender after filing for bankruptcy.
CEO Stephen Ehrlich has announced the voluntary monetary reorganization process in this crypto crash ecosystem. The main aim is to safeguard investments and enhance shareholders' as well as clients' portfolios to evolve better in the cryptocurrency market. Voyager Digital was forced to file for Chapter 11 bankruptcy in the US Bankruptcy Court for mainly two reasons — instability due to crypto crash cases and the utmost failure of Three Arrows Capital. It has ensured restoring customers' money post-judicial clearance efficiently and effectively. Stephen Ehrlich also mentioned the attempt to collect payments from Three Arrows Capital for Voyager Digital.
Thus, the CEO of Voyager Digital is confident that the cryptocurrency lender will come back stronger through this revival plan of the bankruptcy proceedings. Three Arrows Capital has failed to pay Voyager Digital on a loan of 15,250 Bitcoins as well as US$350 million of USDCs. The total amount of the failed loan payment comes to US$650 million. In June 2022, the cryptocurrency lender suspended all kinds of trading, withdrawals, deposits, and loyalty rewards on the platform for crypto investors in the highly unstable cryptocurrency market.
Stephen Ehrlich forecasts that it is a high-level opportunity for customers to select the proportion of common equity as well as a cryptocurrency with maximum thresholds. It was more than US$110 million of cash and owned cryptocurrency assets on hand as a leading cryptocurrency lender. Voyager Digital ensures the revival plan through simplicity, liquidity, speed, as well as transparency. It has continued the evaluation of all kinds of strategic alternatives to maximize shareholder values after filing for bankruptcy.
Voyager Digital is known as commission-free to navigate the cryptocurrency market with Voyager's smart order router technology. It helps to explore and connect to top crypto exchanges for the best price for trading purposes. The cryptocurrency lender is audited to ensure each asset is accounted for in the security system.
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