BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Regulation

Voyager Digital Creditors Recover Over $250M in 18 Days

by Dan K
Jul 10, 2023 - 5:00 pm
in Regulation
Graph illustrating the rapid withdrawal of Voyager Digital assets by creditors

An Unprecedented Asset Recovery

Voyager Digital creditors have been tirelessly working to regain their funds since the crypto brokerage collapsed a year ago. Recent data has shed light on the colossal amount of withdrawals made since the company reopened fund withdrawals for its users on June 23.

The Scale of Withdrawals

According to data provided by Dune, creditors of the bankrupt crypto brokerage company have withdrawn approximately $250.4 million worth of cryptocurrencies within a span of 18 days. Voyager had a total of $426.8 million worth of crypto assets on June 23, and this number has dwindled down to a mere $176.4 million at present.

Breakdown of Remaining Assets

Dune’s data also provides a glimpse into the remaining assets held by Voyager. Most of Voyager’s assets are still in Bitcoin (BTC), valued at about $68.8 million. Other significant holdings include Voyager token (VGX), Ethereum (ETH), and various stablecoins, each worth $6.8 million, $50.8 million, and $18.9 million, respectively. Additionally, Voyager holds $30.8 million worth of different altcoins.

The Aftermath of Bankruptcy

The bankruptcy proceedings of Voyager have been fraught with challenges. In April, Binance.US retracted its bid to purchase Voyager’s assets due to regulatory issues in the US. This led to Voyager, which had already filed for Chapter 11 bankruptcy, distributing its remaining assets among its creditors.

Gemini Steps in to Assist Voyager Users

On a brighter note, the crypto exchange Gemini has stepped in to help former Voyager Digital users. On June 25, Gemini announced a bonus scheme for Voyager Digital’s users, promising to reward them with $5 in BTC within 30 days of their KYC verification. As the saga of Voyager’s collapse unfolds, such initiatives provide a ray of hope for the beleaguered users.

Moving Forward After the Collapse

The case of Voyager Digital’s collapse stands as a sobering reminder of the volatility and risk inherent in the crypto industry. However, the swift withdrawal of over $250 million in assets by creditors within just 18 days demonstrates the resilience and determination of those affected.

Gemini’s initiative to assist former Voyager users also illustrates the solidarity within the crypto community, which is a positive takeaway from this difficult situation. As we move forward, it is essential for industry stakeholders and regulators to learn from such incidents and work toward strengthening measures to protect investors and users.

Despite the rocky journey, creditors and users of Voyager Digital are finding ways to navigate this challenging landscape. Their actions in the wake of the company’s collapse will likely inform future strategies for dealing with similar situations in the crypto industry. The hope is for a more secure and robust market that can better withstand such setbacks.

Tags: BankruptcyCryptocurrencyStablecoinVoyager
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

SUS Capitol building with digital crypto symbols, symbolizing upcoming regulatory discussions in Congress.

US Lawmakers Expected to Propose Crypto Regulation by November — Anthony Scaramucci

February 4, 2025

Anthony Scaramucci suggests US lawmakers may propose crypto regulations by Nov 2024 to gain support from the industry...

Former Binance CEO Changpeng Zhao warning about crypto security exploit affecting Apple devices

CZ Warns Crypto Community of New Exploit Targeting macOS and iPhone Users

November 21, 2024

CZ warns the crypto community of zero-day exploits on Intel Macs and iPhones, urging updates to protect sensitive...

Cathie Wood of ARK Invest discusses the impact of SEC deregulation on the US economy

Defanging the SEC: How Regulatory Shifts Could Turbocharge the US Economy

November 11, 2024

Cathie Wood foresees US economic growth through SEC deregulation, tech innovation, and pro-crypto policies under Trump. Emerging tech...

Bolivian bank Banco Bisa launches a USDT custody service, enabling clients to buy, sell, and transfer USDT

Bolivia Embraces Crypto Momentum: Banco Bisa Launches USDT Custody Service

October 28, 2024

Bolivia's Banco Bisa introduces USDT custody service, allowing clients to securely buy, sell, and transfer stablecoins within a...

Press Releases

png 115

BTC Miner: Earn $100-$100,000 Daily – The Fastest Growing Crypto Mining Platform of 2025!

June 25, 2025

BTC Miner, the fastest growing platform in 2025, opens a new era of inclusive cryptocurrency mining, allowing everyone to participate...

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise