NEW: Crypto lender Voyager Digital has become the latest high-profile crypto company to file for bankruptcy in recent days. nikhileshde realDannyNelson report
Voyager joins Three Arrows Capital in filing for bankruptcy. Three Arrows, however, filed a Chapter 15 petition tied to an ongoing liquidation effort ordered by a court in the British Virgin Islands., Voyager’s loan book accounted for nearly half of its total assets, and nearly 60% of that loan book was composed of loans to Three Arrows.
While FDIC insurance would indeed protect bank-held cash deposits up to $250,000, it would not cover cash converted to stablecoins. Commentators including Coppola haveMoreover, the FDIC insurance kicks in in the event of a bank failure – in this case, Voyager was banked by Metropolitan Bank of New York. There is no protection in the event of a Voyager failure.According to the filing, Voyager Digital, Ltd.'s equity holders include Alameda Research Ventures LLC and Alameda Ventures Ltd.
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