Voyager Digital holds $725m despite liquidating millions of ethereum, SHIB

The move has prompted industry analysts to speculate about the fate of Voyager Digital and its possible effects on the cryptocurrency market. Several businesses and wallets linked to the bankrupt exchange have been shifting money to and from multiple exchanges.

The collapse of Voyager Digital

Voyager Digital’s collapse was a blow to the cryptocurrency market. In July 2022, the lender stopped accepting customer deposits and withdrawals after Three Arrows Capital (3AC), a defunct crypto hedge fund, failed to repay a 15,250 bitcoin (BTC) and $350m worth of USDC loan. This action hastened Voyager’s downfall amid mounting legal and regulatory issues.

Following this, the bankrupt crypto lender announced that as of Sep. 13, 2022, it would be holding a liquidation auction to address its financial challenges.

Sam Bankman-Fried’s attorney negotiates a new bail arrangement

On Dec. 13, Sam Bankman-Fried, whose cryptocurrency businesses were closely connected to Voyager Digital, faced an eight-count indictment accusing him of defrauding FTX customers, investors, and Alameda research.

In a recent trial update, his attorneys claimed to be approaching an agreement with U.S. prosecutors on amended bail conditions for the arrested FTX cryptocurrency exchange founder.

In a letter delivered Friday evening to the federal court in Manhattan, Fried’s attorney Christian Everdell stated that both sides believed they were “near to a resolution.” They anticipated formally proposing further limits by next week.

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