US$250 million flows out of Voyager Digital

One year on, creditors of insolvent Voyager Digital have recovered their money for the first time. According to data from Dune Analytics, about US$250 million has flowed from the platform.

In doing so, Voyager is following an insolvency plan approved by the relevant court, which states that customers will initially receive 35 percent of their claims. Voyager went bankrupt last July. Since then, the company has been actively working on a plan to redistribute funds to its creditors.

According to Dune, there is now $176 million in cryptocurrencies remaining from Voyager. This includes 2,287 BTC, 27,363 ETH, as well as about 18 million USDC and SHIB worth just under US$16 million. There are also outstanding claims against other bankrupt crypto companies, including US$650 million from Three Arrows Capital.

Some $445 million is expected to become available once a settlement is reached with the trading company involved in the FTX collapse, Alameda Research.