- Voyager Digital receives $484.35 million in recovery funds from FTX, 3AC, and D&O insurance settlements.
- The company announces a $450 million claim from FTX, which represents 12% of the original claims made by Voyager creditors.
- 3AC reportedly offers $675 million and D&O $14.35 million to the Voyage creditors.
In a recent turn of events, the bankrupt crypto brokerage company Voyager Digital has announced the recovery of $484.35 million from FTX, Three Arrows Capital (3AC), and Directors and Officers (D&O) insurance settlements.
Bitcoin enthusiast and investor Simon Dixon, in response to the crucial development in Voyager Digital’s bankruptcy proceedings, commented on FTX and Alameda Research’s remarkable contributions. Dixon shared his optimistic perspectives on future developments in the reimbursement plans of the bankrupt crypto lender Celsius.
As per Voyager Digital’s official announcement, the platform received a claim of a massive $450 million in reclaimed funds from FTX alone. This marks about 25% of the original claims made by Voyager creditors.
The company has also unveiled another claim that included 3Ac’s $675 million, out of which $20.43 million represents Voyager’s proportionate share of 3AC’s initial distribution. In addition, D&O insurance mediation is expected to contribute nearly $14.35 million to Voyager creditors. The platform believes in a faster recovery with the assets being liquidated and the litigation recoveries achieved.
Providing further insights into the technical challenges, Voyager Digital shed light on the 270,000 uncashed checks totaling $17 million. About 187,000 of these checks represent amounts less than $25. Voyager Digital declared that the outstanding checks would be tagged unclaimed and canceled after April 20, 2024, keeping the date as a deadline.
Reflecting on FTX and Alameda Research’s “outstanding institutional & potential preference exposure to the Celsius Chapter 11 estate,” Dixon commented that the current development may “signal a positive expectation for future Celsius settlements/ distribution too.”
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