Voyager Digital, the Toronto-listed crypto firm that lent bankrupt Three Arrows Capital $650 million, filed for Chapter 11 protection in New York bankruptcy court yesterday. At the end of the quarter to March 31, it said it had 1.2 million funded accounts.
Court filings show that its assets are between $1 billion and $10 billion, as are its liabilities. A balance sheet wasn’t filed, so the true deficit is currently unclear. (Update: a document shows its outstanding crypto loans amount to $1.1 billion.) Voyager requested to extend the deadline for sharing financial details. It had $5.8 billion in assets on the platform at the end of the first quarter.
The company says it currently has $1.3 billion in crypto-assets on its platform plus $110 million in crypto-assets and cash owned by the company. Additionally, $350 million of client cash is segregated in a client account and should be returned in full to customers, subject to compliance requirements.
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