Case summary
What happened
Voyager disclosed major exposure to Three Arrows Capital, suspended platform activity, filed for Chapter 11, pursued sale transactions that failed after FTX and Binance.US-related complications, and moved into a wind-down and distribution process.
Customer result
Customer outcome
Partial repayment
Voyager moved into a direct recovery process after proposed sale paths failed. Recovery was partial and subject to estate assets and litigation recoveries.
- Estimated recovery
- initial recovery plus possible future recoveries
- Repayment started
- 2023-06-01
- Repayment completed
- —
- Confidence
- Medium
Asset treatment
Terms risk
Varies by product
Voyager terms and customer recovery are treated conservatively because recovery details depended on estate and distribution documents.
- Affected product
- Voyager customer account balances and rewards-related balances
- Confidence
- Medium
Voyager customer treatment depended on estate assets, account balances, recovery process, and litigation recoveries after the platform entered wind-down.
Known unknowns
Uncertainty
Recovery details changed over time as sale efforts and litigation recoveries evolved. This seed should be upgraded with official wind-down and docket sources.
Chronology
Historical record
Voyager begins operating
Voyager developed as a crypto brokerage and yield-linked platform offering trading and rewards-related services.
Launch date approximate.
No direct evidence linked to this event yet.
Trading, deposits, withdrawals, and rewards suspended
Voyager suspended trading, deposits, withdrawals, and loyalty rewards after stress related to exposure to Three Arrows Capital.
Core platform halt event.
Chapter 11 bankruptcy filed
Voyager Digital and affiliates filed for Chapter 11 bankruptcy protection shortly after the platform suspension.
Main bankruptcy event.
FTX US asset purchase agreement announced
Voyager announced an asset purchase agreement with FTX US, which later failed after FTX collapsed.
Important failed restructuring path.
Binance.US sale agreement announced
Voyager later announced a proposed Binance.US transaction, which also did not lead to a completed customer migration.
Needs direct official source review.
No direct evidence linked to this event yet.
Initial customer recovery process begins
Voyager began an initial customer recovery process after sale paths failed and the estate moved toward direct distributions.
Recovery percentage and timing should be verified against official estate communications.
Source record
Evidence dossier
Filter by claim, reliability, source type, and whether evidence is linked to a specific event.
customer outcome
1 sourcesVoyager wind-down coverage
Reuters · 2023-05-05
Supports wind-down and customer recovery path.
Event
4 sourcesVoyager market update
Voyager Digital / PR Newswire · 2022-07-01
Supports platform halt event.
Voyager bankruptcy case information
Stretto
Bankruptcy case portal for Voyager.
Voyager bankruptcy filing coverage
Reuters · 2022-07-06
Supports Chapter 11 filing.
Voyager asset sale coverage
Reuters · 2022-09-27
Supports FTX sale path.
No evidence records match the current filters.
Comparative records