To complete your first transfer, you must first review and accept the Crypto Transfer Disclaimer in the app. You will need to scroll and read the entire disclaimer and check the box and accept. Due to the volume of transactions, compliance requirements, and https://cryptolisting.org/ load on the system, transfers may take 3-7 days to complete. The Voyager app is now open for crypto transfers for the approved 30-day period. You are strongly encouraged to transfer your initial in-kind recovery from the Voyager app as soon as possible.
Hage Disclosed More Funds On The Way For Customers
- Confirm that the receiving wallet(s) are compatible with the blockchain on which the tokens will be sent – Voyager only supports primary chains, not side chains.
- Secondly, if the court makes a final resolution to Alameda Research’s preference claim in the repayment in mid-September 2023, another $445 million of Voyager’s customer’s funds will become available.
- You will need to scroll and read the entire disclaimer and check the box and accept.
- So, the approved percentage is what the customers hope to withdraw from June 20 either in crypto directly from the app or wait 30 days to receive cash.
In an exciting development, Voyager has announced that its mobile app is now open for affected users to withdraw their crypto from the platform. This limited-time opportunity grants users a 30-day window to reclaim their crypto holdings, with an initial recovery of 35.72% of each user’s portfolio. To receive your initial crypto recovery in-kind you must transfer all available crypto from your Voyager account to a designated wallet address (whether to another U.S.-based exchange or a self-custody wallet). If you do not transfer your crypto in-kind during this 30-day window, you will receive your initial recovery in U.S. dollars at a later date, subject to market fluctuations. Please note if you have a balance of any token that is less than the transfer fees, you will be unable to complete a transfer.
Voyager Digital Customers Will Soon Withdraw Their Locked Funds
He also mentioned plans to raise more customer funds after this first payout phase. The company’s court filing on June 14 revealed that the Voyager app would be open on June 15, disclosing the total amount to be withdrawn and facilitating the withdrawal process for customers. Notably, this opportunity is coming to the customers after one year of not accessing their funds following Voyager Digital’s crash in 2022. Once the process starts, the customers can withdraw 35% of their funds in this phase, as approved by the court in May 2023. You can find answers to questions you may have regarding the initial recovery and how to transfer crypto on our blog.
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Based on these, Hage stated that “the primary focus will shift to recovering additional assets that can be distributed to creditors” after completing this first phase of repayments. Secondly, if the court makes a final resolution to Alameda Research’s preference claim in the repayment in mid-September 2023, another $445 million of Voyager’s customer’s funds will become available. Voyager Digital filed for bankruptcy in July 2022 due to the crypto market crash that saw many assets lose value.
According to Hage, the app will open on June 15, but the main withdrawal processes will commence between June 20 and July 5. A recent update on Voyager Digital, which went bankrupt in 2022, suggests that its customers will soon access their lost funds. Here is the part of it and the link to the transfer instructions and video. The most recent email from Voyager has all information and instructions and even the video.
This crypto will be sold at a later date and you will receive payment in U.S. dollars. If a user does not withdraw their crypto from the Voyager app within the 30-day window, Voyager states they will sell the crypto and the user will receive their initial recovery payment in U.S. dollars at a later date. Once you have done so, you will want to confirm that any existing accounts(s) or wallet(s) you have can accept each of the tokens that you will transfer. Confirm that the receiving wallet(s) are compatible with the blockchain on which the tokens will be sent – Voyager only supports primary chains, not side chains. The Voyager app will be open from June 23rd to July 23rd, which means users have a 30-day window to withdraw their crypto from the platform. The firm’s bankruptcy plan administrator, Paul Hage, notably revealed this decision in the court filing.
The withdrawable amount is limited to an initial recovery of 35.72% of each users’ portfolio. In this recent filing, the bankruptcy administrator Hage also revealed vital information about the company’s plans to make more funds available for its creditors. Hage noted that Three Arrows Capital which also filed for bankruptcy in 2022, still owes $650 million to Voyager.
So, the approved percentage is what the customers hope to withdraw from June 20 either in crypto directly from the app or wait 30 days to receive cash. On May 17, Judge Michael Willes of the US Bankruptcy Court for the Southern District of New York approved the plans, which stated a first repayment of what jobs are exempt from overtime pay 35.7% to Voyager’s customers. Recall that Voyager Digitals had proposed a repayment plan to the court on May 5 following Binance.US’s withdrawal from buying $1 billion worth of its assets on April 25. Please view the video below to learn more about how to withdraw your crypto from the Voyager app.