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Can it do a SIMPQ mover 05-$3.70?
Let’s have some fun today VYGVQ$ WOO WOO
VYGVQ#$$: Hey JuneBugs, this about to get interesting. We just may see this Puppy Break it's Chain,Leap and go on an Epic Run North .Short Squeeze plus the Reddit Group circling. Hey MaryJane, can you say $30/share?
VYGVQ 8 )-" while they talking shit over there on bitcoin making big money here Voyager baby WOOHOOOOOO
Opinion on what existing shareholders are going to do with their shares now that trading is allowed.
Take the loss at these levels while trading is still allowed or hope for a better outcome with the company as time goes on?
VYGVQ Oh my Lord doubled my money already WOOHOOOOOO WOOHOOOOOO
VYGVF changed to VYGVQ, bankruptcy.
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
No mention of the stockholders.
Today's fluffer from the criminals at Voyager
Last Friday, Voyager presented what are referred to as “First Day Motions” as part of our Chapter 11 filing to the U.S Bankruptcy Court. We were granted the relief requested. This was the first step in the restructuring process, which is intended to address the company’s financial circumstances and allow us to resume normal operations.
We know you have many questions, and we are moving swiftly to give you answers. Below and in this more detailed blog post, we’ve tried to respond to your most pressing inquiries.
How does the reorganization process impact my cash?
We are working to restore access to USD deposits. Customer USD belongs to customers and will return to those same customers, subject to a reconciliation and fraud prevention process.
Is the USD in my account FDIC insured?
Yes. USD in your Voyager cash account is held at Metropolitan Commercial Bank of New York (“MCB”) and is FDIC insured. That means you are covered in the event of MCB’s failure, up to a maximum of $250,000 per Voyager customer. FDIC insurance does not protect against the failure of Voyager, but to be clear: Voyager does not hold customer cash, that cash is held at MCB.
What will happen to the crypto in my account?
Voyager currently has approximately $1.3 billion of crypto assets on its platform, plus claims against Three Arrows Capital ("3AC") of more than $650 million (it fluctuates due to the exchange rate between Bitcoin and USD).
Under Voyager’s proposed reorganization plan, which is subject to change and requires Court approval, customers will receive a combination of the following, with the ability to select the proportion of crypto and common equity they receive, subject to certain maximum thresholds:
Pro-rata share of crypto;
Pro-rata share of proceeds from the 3AC recovery;
Pro-rata share of common shares in the newly reorganized Company; and
Pro-rata share of existing Voyager tokens.
Can you tell me how much of my crypto I’ll get back?
At this stage, we are proposing that customers will receive their crypto as described above. However, the exact numbers will depend on what happens in the restructuring process and the recovery of 3AC assets. We understand how important this issue is and will provide updates as soon as possible.
What’s next?
Our next Court hearing is on August 4, 2022, where we will seek further relief to stabilize operations and further advance the restructuring. As the restructuring continues, you may receive notices with updates on additional legal and procedural milestones. This includes a Notice of Commencement, a required, customary legal document indicating that Voyager and its subsidiaries have filed voluntary petitions for Chapter 11 reorganization. This notice requires no action on your part.
Further details on the restructuring, including relevant court filings, is available at https://cases.stretto.com/Voyager, or by calling +1 (855) 473-8665 (U.S. toll-free) or +1 (949) 271-6507 (international).
We can’t thank you enough for your continued support. We’ve worked hard to share everything we can at this point; you have our continued commitment that we will keep you updated. We are moving through this process as quickly as we can.
Regards,
Team Voyager
Another fluff piece from that criminal Erhlich - what a total piece of shit the BK judge needs to show that bastard the door with ZERO Voyager funds due him.
Anyone with even basic risk management ability would have know what Erhlich and his gang did was massively wrong and probably highly illegal, stealing other peoples assets to cover their stupid azz bets with 3AC - I'm sure as they dig deeper there will be a connection between Erhlich and his gang and the crooks at 3AC.
since I never saw anything from regular news outlets; I would consider what I posted about Buffett as fake.
Good for Warren - looks like he was eating the "rat poison" himself.
Why in the world was everyone feeding the 3AC fraud?
FOR A BUCK
The only ones I'm sorry for are the retail investors who will wind up losing everything while the big boys will recover anything left from the scamster 3AC
Hard to believe
Tweet
Jon Najarian Retweeted
litquidity
@litcapital
BREAKING: Berkshire Hathaway stands to lose $6 billion from unsecured loans it made to embattled crypto hedge fund Three Arrows Capital, in documents reviewed by Bloomberg.
BREAKING: Berkshire Hathaway stands to lose $6 billion from unsecured loans it made to embattled crypto hedge fund Three Arrows Capital, in documents reviewed by Bloomberg.
— litquidity (@litcapital) July 8, 2022
Crypto Broker Voyager Digital Files for Bankruptcy Protection -- Update
6:49 AM ET 7/6/22 | Dow Jones
By Yifan Wang
Cryptocurrency broker Voyager Digital Ltd. said it has filed for Chapter 11 bankruptcy protection, days after it suspended withdrawals and trading on its platform amid growing turmoil in digital-currency markets.
The company said in a statement that it has initiated Chapter 11 restructuring in New York, where it is based, and will seek recognition of the case in Canada, where it is listed.
The voluntary filing comes after Voyager was caught up in the problems of Three Arrows Capital Ltd., a crypto hedge fund that suffered heavy losses from multiple cryptocurrencies since May. Three Arrows recently defaulted on a large loan from a unit of Voyager.
Voyager said it has around $1.3 billion of crypto assets on its platform, and more than $350 million in cash held for the benefit of customers at Metropolitan Commercial Bank. It had claims of more than $650 million against Three Arrows Capital as of June 30.
The company said it also has more than $110 million of cash and owned crypto assets that would help support its operations during the Chapter 11 process.
Voyager said that it is "actively pursuing all available remedies for recovery" from Three Arrows, including through court-supervised processes in the British Virgin Islands and New York. Last week, a court in the British Virgin Islands ordered the hedge fund to liquidate and appointed two executives from the global advisory firm Teneo to oversee the process.
The crypto broker last week announced the temporary suspension of trading, deposits, withdrawals and loyalty rewards on the Voyager platform, saying it needed time to explore strategic alternatives.
In its latest statement, Voyager said the suspension remains in place, and that it aims to resume account access once the restructuring is executed.
"The prolonged volatility and contagion in the crypto markets over the past few months, and the default of Three Arrows Capital on a loan...require us to take deliberate and decisive action now," said Stephen Ehrlich, Voyager's chief executive. "The Chapter 11 process provides an efficient and equitable mechanism to maximize recovery."
Voyager said customers would be able to access their accounts upon implementation of the restructuring plan, receiving in exchange for crypto in their accounts a combination of crypto, proceeds recovered from Three Arrows, common shares and company tokens. The plan is subject to court approval and is subject to change given ongoing discussions with other parties, Voyager said.
Voyager added it has more than $110 million worth of cash and owned crypto assets on hand that will provide liquidity to support daily operations during the Chapter 11 process.
Cryptocurrencies have been hard hit in a time of sliding global markets and rising interest rates. Since bitcoin hit an all-time high in November, roughly $2 trillion of cryptocurrency value--more than two-thirds of all the crypto that existed--has been erased. Bitcoin itself has lost more than 56% of its value this year.
Other crypto companies have also been hard hit by the price plunge. Crypto lender BlockFi last week said it signed an agreement with crypto exchange FTX for a $400 million credit facility and gave FTX the option to buy BlockFi for $240 million. BlockFi said it has suffered about $80 million in losses from its exposure to Three Arrows Capital.
Voyager's shares, traded on the Toronto Stock Exchange, are down about 98% so far this year. The stock, which was trading at 25 Canadian dollars in November, has plummeted to 34 Canadian cents, giving the company a market value of roughly US$50 million.
There is no benefit except for the company and worthless management to be able to fleece a new batch of customers or shills if you will.
There is no "good" that comes from being a bankrupt company NONE no matter what head dipshit Ehrlich says.
Reorganization attempt.
Voyager:
To be clear: This does NOT mean Voyager is going out of business. The restructuring process is intended to help companies stay in business, which is exactly what we intend to do. Being able to continue operations is a key benefit of a restructuring, a well-established legal process through which companies reorganize their financial obligations. In the meantime, we are continuing discussions with various parties regarding the company’s go-forward strategy.
Just more Fluff BS from Erhlich, how about he allows all customers to remove their cryptos at no charge from BK Voyager?
In a perfect world:
Stephen Ehrlich
@Ehrls15
·
8h
As part of this process, the proposed Plan of Reorganization would resume account access and return value to customers. Under this Plan, which is subject to change given ongoing discussions with other parties, and requires Court approval:
Stephen Ehrlich
@Ehrls15
·
8h
Customers with crypto in their account(s) will receive in exchange a combination of the crypto in their account(s), proceeds from the 3AC recovery, common shares in the newly reorganized Company, and Voyager tokens.
Aholes are trying to save themselves and F all their customers in the process.
This has to be the worst investment I've made so far.
Ehrlich and his buddies should be behind bars - not is a court to allow them to carry on their fraudulent operations.
Crypto brokerage Voyager Digital files for Chapter 11 bankruptcy protection
Published Wed, Jul 6 20224:43 AM EDT
https://www.cnbc.com/2022/07/06/crypto-firm-voyager-digital-files-for-chapter-11-bankruptcy-protection.html
Points
Voyager commenced bankruptcy proceedings in the U.S. Bankruptcy Court of the Southern District of New York on Tuesday.
The company suffered huge losses from its exposure to crypto hedge fund Three Arrows Capital, which went bust last week.
Sam Bankman-Fried’s Alameda Research is listed as Voyager’s largest creditor, with an unsecured claim of $75 million.
Beleaguered crypto brokerage Voyager Digital has filed for Chapter 11 bankruptcy protection, becoming the latest casualty of chaos in digital asset markets.
Voyager commenced bankruptcy proceedings in the U.S. Bankruptcy Court of the Southern District of New York on Tuesday, according to a filing from the company. The filing lists assets of between $1 billion and $10 billion, and liabilities in the same range.
In a statement, the company said it has roughly $1.3 billion of crypto on its platform and holds over $350 million in cash on behalf of customers at New York’s Metropolitan Commercial Bank.
Voyager suffered huge losses from its exposure to crypto hedge fund Three Arrows Capital, which went bust last week after defaulting on loans from a number of firms in the industry — including $650 million from Voyager.
“We strongly believe in the future of the industry but the prolonged volatility in the crypto markets, and the default of Three Arrows Capital, require us to take this decisive action,” Voyager CEO Stephen Ehrlich said in a tweet early Wednesday.
The Toronto-listed firm’s shares have lost nearly 98% of their value since the start of 2022.
Voyager says it is still pursuing the recovery of funds from Three Arrows Capital, or 3AC as it’s otherwise known, including through court-supervised proceedings in the British Virgin Islands and New York.
Last week, Voyager paused all withdrawals, deposits and trading on its platform due to “current market conditions.” Ehrlich at the time said Voyager was seeking additional time to explore “strategic alternatives with various interested parties.”
Several other firms, including Celsius, Babel Finance and Vauld, have taken similar steps. On Tuesday, Vauld received a takeover offer from Nexo, a rival firm, after suspending its services.
The crypto market is grappling with a severe liquidity crisis as platforms struggle to meet a flood of withdrawals from customers amid a sharp fall in digital currency prices.
The declines in crypto started with a broad fall in risky assets as the Federal Reserve embarked on monetary tightening, and gathered pace following the collapse of Terra, a so-called stablecoin venture that was worth around $60 billion at its height.
Bitcoin, the world’s largest token, had its worst month on record in June, plunging 38%. Investors are bracing for a much longer downturn in digital currencies known as “crypto winter.”
Restructuring plan
Voyager said the move would allow it implement a restructuring process so that customers can be reimbursed.
If all goes according to plan, users would receive a combination of crypto in their accounts, proceeds from the recovery of funds from Three Arrows Capital, shares of the newly reorganized company, and Voyager tokens.
Clients with U.S. dollar deposits will regain access to their funds once a reconciliation and fraud prevention process with Metropolitan Commercial Bank is complete, Voyager said.
Alameda Research, the quant trading shop of billionaire Sam Bankman-Fried, had extended Voyager a line of credit worth $500 million in cash and crypto last month in a futile attempt to tide the company over.
Alameda was listed as Voyager’s largest creditor in the bankruptcy filing Tuesday, with an unsecured claim of $75 million.
Bankman-Fried, who also founded the crypto exchange FTX, has become a lender of last resort for the troubled industry. He recently agreed a deal giving FTX the option to buy crypto lending company BlockFi for up to $240 million — a dramatic drawdown from the $3 billion it was last privately valued at.
Some have likened Bankman-Fried’s efforts to the role played by John Pierpont Morgan in rescuing Wall Street lenders from collapse after a series of bank runs known as the panic of 1907, which preceded the establishment of the Fed.
Voyager Digital Commences Financial Restructuring Process to Maximize Value for All Stakeholders
https://finance.yahoo.com/news/voyager-digital-commences-financial-restructuring-051000194.html
Wed, July 6, 2022 at 1:10 AM
Files Voluntary Petitions for Chapter 11 Protection to Implement Restructuring; Proposed Plan of Reorganization Creates Efficient Path to Resume Account Access and Return Value to Customers
Voyager Has Approximately $1.3 Billion of Crypto Assets on the Platform, More Than $350 Million of Cash Held in the FBO Account for Customers at Metropolitan Commercial Bank, and Claims Against Three Arrows Capital of More Than $650 Million1
NEW YORK, July 5, 2022 /CNW/ - Voyager Digital Ltd. ("Voyager" or the "Company") (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2), today announced that it has commenced a voluntary Chapter 11 process to maximize value for all stakeholders. As part of this process, the Company and its main operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court of the Southern District of New York (the "Court"). The Company intends to seek recognition of the Chapter 11 case of Voyager in the Ontario Superior Court of Justice (Commercial List) pursuant to the Companies' Creditors Arrangement Act.
"This comprehensive reorganization is the best way to protect assets on the platform and maximize value for all stakeholders, including customers," said Stephen Ehrlich, Chief Executive Officer of Voyager. "Voyager's platform was built to empower investors by providing access to crypto asset trading with simplicity, speed, liquidity, and transparency. While I strongly believe in this future, the prolonged volatility and contagion in the crypto markets over the past few months, and the default of Three Arrows Capital ("3AC") on a loan from the Company's subsidiary, Voyager Digital, LLC, require us to take deliberate and decisive action now. The chapter 11 process provides an efficient and equitable mechanism to maximize recovery."
The proposed Plan of Reorganization ("Plan") would, upon implementation, resume account access and return value to customers. Under this Plan, which is subject to change given ongoing discussions with other parties, and requires Court approval, customers with crypto in their account(s) will receive in exchange a combination of the crypto in their account(s), proceeds from the 3AC recovery, common shares in the newly reorganized Company, and Voyager tokens. The plan contemplates an opportunity for customers to elect the proportion of common equity and crypto they will receive, subject to certain maximum thresholds.
Customers with USD deposits in their account(s) will receive access to those funds after a reconciliation and fraud prevention process is completed with Metropolitan Commercial Bank.
The Company continues to evaluate all strategic alternatives to maximize value for stakeholders.
The Company has over $110 million of cash and owned crypto assets on hand, which will provide liquidity to support day-to-day operations during the Chapter 11 process, in addition to more than $350 million of cash held in the For Benefit of Customers (FBO) account at Metropolitan Commercial Bank. Voyager also has approximately $1.3 billion of crypto assets on its platform, plus claims against Three Arrows Capital ("3AC") of more than $650 million.
Voyager previously announced that its subsidiary, Voyager Digital LLC, issued a notice of default to 3AC for failure to make the required payments on its previously disclosed loan of 15,250 BTC and $350 million USDC. Voyager is actively pursuing all available remedies for recovery from 3AC, including through the court-supervised processes in the British Virgin Islands and New York.
The Company also announced the appointment of a four new independent directors: Matthew Ray at Voyager Digital Ltd.; Scott Vogel at Voyager Digital Holdings, Inc.; and Jill Frizzley and Timothy Pohl at Voyager Digital LLC. Information regarding their backgrounds and relevant experience is included at the end of this release.
As part of the reorganization process, the Company will file customary "First Day" motions to allow it to maintain operations in the ordinary course. Voyager intends to pay its employees in the usual manner and continue their primary benefits and certain customer programs without disruption. The Company expects to receive court approval for all these routine requests. Trading, deposits, withdrawals and loyalty rewards on the Voyager platform remain temporarily suspended.
Parties with questions about the chapter 11 process may contact the Company's Claims Agent, Stretto, at +1 (855) 473-8665 (toll-free in the U.S.) or +1 (949) 271-6507 (for parties outside the U.S.). They have also set up a website at http://cases.stretto.com/Voyager, which includes court documents and other information.
To effectuate the restructuring process, the Company has engaged Moelis & Company and The Consello Group as financial advisors, Kirkland & Ellis LLP as legal advisors, and Berkeley Research Group, LLC, as restructuring advisor.
New Independent Directors to Provide Additional Leadership and Expertise
Matthew Ray joins as an independent director of Voyager Digital Ltd. Mr. Ray is the Founder and Managing Partner of Portage Point Partners where he has served as Chief Restructuring Officer (CRO), Chief Executive Officer (CEO), Chairman, Lead Independent Director, Special Restructuring Committee Chairperson and Strategic Advisor leading wide-ranging transformations and restructurings for both private and public companies.
Scott Vogel joins as an independent director of Voyager Digital Holdings, Inc. Mr. Vogel has broad experience sitting on numerous boards of directors for financially distressed companies in a diverse set of industries. Mr. Vogel carefully and skillfully manages complex situations, develops restructuring plans and post-restructuring organizational priorities, builds consensus amongst and between stakeholders and management, executes complex capital market and corporate transactions, facilitates clear lines of communication, and aligns management incentives to ensure accountability.
Jill Frizzley joins as an independent director of Voyager Digital LLC. Ms. Frizzley is a corporate governance expert with significant experience serving on boards of directors and advising on corporate governance, restructuring, bankruptcies, and mergers and acquisitions. Leveraging over two decades of legal practice in financial restructuring and insolvency, Ms. Frizzley has a deep wealth of knowledge encompassing corporate, financial, and governance matters across a wide range of industries.
Timothy Pohl joins as an independent director of Voyager Digital LLC. Mr. Pohl has extensive experience and expertise in all aspects of corporate restructurings and financing, mergers and acquisitions, valuation, liquidity and balance sheet assessment and analysis, capital markets, corporate law, restructuring law, and litigation. Mr. Pohl currently serves as a Senior Advisor in a number of situations, as well as an Independent Director for a number of corporations. Mr. Pohl has also advised across a wide range of industries and has provided expert testimony on valuation and corporate and restructuring matters.
Note B: Includes 15,250 BTC loaned to Three Arrows Capital.
Note C: Includes $350 million USDC loaned to Three Arrows Capital.
https://www.investvoyager.com/pressreleases/voyager-digital-provides-market-update-2
Three Arrows Capital (also known as 3AC or TAC) was a Singapore-based cryptocurrency hedge fund which was ordered to liquidate on 27 June 2022 by a court in the British Virgin Islands.[1] It was founded in 2012 by Kyle Davies and Su Zhu.[2][3][4]
History
Davies and Zhu first met at Phillips Academy and both studied at Columbia University before working for Credit Suisse for brief spells, prior to setting up Three Arrows in 2012.[5][6] In its last public statement, the fund claimed a net asset value of $18 billion.[7] Blockchain analytics firm Nansen estimated in March 2022 that Three Arrows managed about $10 billion in cryptocurrency assets,[8] although there is speculation that most of their visible assets were sourced by uncollateralized borrowing from various lending platforms.
The firm backed projects including Aave,[9] Avalanche,[10] BlockFi,[11] Deribit,[10] Ethereum,[10] Polkadot,[10] Solana,[10] and WOO Network.[12] According to a January 2021 SEC filing, Three Arrows owned almost 39 million units of Grayscale Bitcoin Trust (GBTC) at the end of 2020.[13] The firm invested approximately $200 million in LUNA tokens in February 2022.[3][14][15] In April 2022 Bloomberg reported that Three Arrows was planning to move its headquarters to Dubai from Singapore,[16] although on 24 June 2022 Dubai's regulator confirmed that Three Arrows was not registered with the Dubai Financial Services Authority.[17]
Cryptocurrencies experienced broad declines in mid-2022.[18][19] LUNA, in which Three Arrows had invested, fell to almost zero in May 2022,[20] though it is not known how Three Arrows fared.[15]
Licensing and regulatory issues
A class action, Patterson v. TerraForm Labs Pte Ltd. et al, was filed against Three Arrows and others in the United States District Court for the Northern District of California on 17 June 2022.[21]
On 30 June 2022, the Monetary Authority of Singapore (MAS) said it had reprimanded Three Arrows for breaching its allowed threshold of having no more than $250 million Singapore dollars in assets under management, a condition of its August 2013 fund management company registration.[22] Three Arrows was further reprimanded for providing false or misleading information to MAS, and failing to notify MAS of changes to directorships or shareholdings.[22]
Liquidation
On 16 June 2022, the Financial Times reported that Three Arrows had failed to meet its margin calls.[23] On 22 June, The Wall Street Journal reported that Three Arrows had failed to repay money lent from cryptocurrency broker Voyager Digital.[24] On 27 June 2022, Voyager Digital issued a notice of default against Three Arrows for failing to make the required payments on a Bitcoin and USD Coin loan worth more than $665 million.[25] On the same day, a court in the British Virgin Islands ordered the liquidation of Three Arrows Capital, overseen by Teneo, according to Sky News and The Wall Street Journal.[1][26][27] The fund filed for Chapter 15 bankruptcy to protect its US assets from creditors.[28]
https://en.wikipedia.org/wiki/Three_Arrows_Capital
There is only one thing that is money!!! Which you should be buying now when it is on sale!
Definitely worth the gamble here WOOHOOOOOO
Basically, everything is shut down for now. No deposits, withdrawals, transferring your positions from Voyager to anywhere else. You can just see your position or positions and say you MFR's. Hopefully they can figure something out.
they probably shut down customer activity this past Friday at 2pm for someone to examine the books. Either they announce a bailout on Tuesday, for declare Chapter 11. Maybe even announce it this evening.
VYGVF#$$: Hey Bulba, I'll be a buyer of this Puppy @$.10/share to the tune of 1million shares. All you JuneBugs out their come join me tomorrow morning. Let's buy this Puppy up , make him climb the stairs. Yes LeRoy, in 2weeks this Puppy will be above $1 USD ... don't blink , this Puppy is going to Break it's Chain,Leap and go on an Epic Run North. The sky is not falling Chicken Little.
But they were reckless in allowing such a huge concentration in just a few borrowers. Who in their right mind would loan 650 million dollars worth of crypto to a Virgin Islands based shell company?
Reckless - Stupid - and it should be consider a blatant disregard for customer assets.
PERIOD
Voyager has to lend out it's customers assets in order to earn the interest needed to pay for the rewards program.
My god, 60% to 3AC alone - THE ENTIRE MANAGEMENT OF VOYAGER NEEDS TO GO AND THE WAY IT LOOKS, THEY WILL BE SHORTLY.
Ehrlich and his entire gang need to be fired with ZERO severance for their failure to manage risk properly.
Anyone even remotely attached to the risk management team, if they even had one, needs to be terminated YESTERDAY.
What an all around failure and mismanagement of other people's money and assets, I hope fraud charges are brought against the entire management team for FRAUD.
I clipped that article, because it didn't copy/paste well on the lists.
It contains the list of loaned out parties and balance sheet.
After the market closed Three Arrows Capital (3AC) declared bankruptcy
Chapter 15. Not sure that 15 means. US creditors perhaps.
https://finance.yahoo.com/news/voyager-digital-provides-market-184400883.html
My question is:
Why did Voyager "loan" that kind of BTC and USDC to a single entity?
Was it their's to lend or did they use customer accounts ?
None of this makes sense for a crypto platform, but it makes huge sense if it was all a ploy by Ehrlich and his 3AC buddies to rob Voyager blind.
As a customer, I believe we are fucked thanks to the recklessness of Ehrlich and his gang.
Chinese property market just full of monkey wrenches! Cascade failure!
Voyager Digital Provides Market Update
Fri, July 1, 2022 at 2:44 PM
NEW YORK, July 1, 2022 /CNW/ - Voyager Digital LLC, the operating platform of Voyager Digital Ltd. ("Voyager" or the "Company") (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2), announced it is temporarily suspending trading, deposits, withdrawals and loyalty rewards, effective at 2:00 p.m. Eastern Daylight Time today.
"This was a tremendously difficult decision, but we believe it is the right one given current market conditions," said Stephen Ehrlich, Chief Executive Officer of Voyager. "This decision gives us additional time to continue exploring strategic alternatives with various interested parties while preserving the value of the Voyager platform we have built together. We will provide additional information at the appropriate time."
Voyager previously announced that its subsidiary, Voyager Digital LLC, issued a notice of default to Three Arrows Capital ("3AC") for failure to make the required payments on its previously disclosed loan of 15,250 BTC and $350 million USDC. Voyager is actively pursuing all available remedies for recovery from 3AC, including through the court-ordered liquidation process in the British Virgin Islands.
To support its exploration of strategic alternatives, the Company has engaged Moelis & Company and The Consello Group as financial advisors, and Kirkland & Ellis LLP as legal advisors.
Voyager also provided the following financial and balance sheet updates, per requirements of Canadian Securities Laws. All figures are preliminary, non-reviewed and unaudited and subject to final adjustments following completion of quarterly and year-end close procedures.
FTX closes in on a deal to buy embattled crypto lender BlockFi for $25 million in a fire sale
Published Thu, Jun 30 20221:29 PM EDTUpdated 20 Min Ago
Key Points
Crypto exchange FTX is close to finalizing a term sheet to buy BlockFi and a deal is expected to be signed by the end of this week, three sources familiar with the situation told CNBC.
It comes after FTX provided a $250 million emergency line of credit to BlockFi.
The price tag is 99% below BlockFi’s last valuation, leaving equity investors in BlockFi “wiped out” and writing off the value of their losses.
https://www.cnbc.com/2022/06/30/ftx-closes-in-on-a-deal-to-buy-embattled-crypto-lender-blockfi-for-25-million-in-a-fire-sale.html
Lmfao that must understand technical analysis bitcoin head to 10k
Have to watch those rugs. They slip easily as if pulled .....
Russia Could Use Cryptocurrency to Blunt the Force of U.S. Sanctions
https://nytimes.com/2022/02/23/business/russia-sanctions-cryptocurrency.html
Makes sense...Seems the stock price likes the news or something else.
Hey cool thanks, good moves! and GLTU 2 GLTA $VYGVF
Averaged down to $2.00 just now
Best of luck to us buying this currently
LO Buy +200 @.35 Filled $VYGVF Add More $VGX Premium Crypto Ape Strong!
Monday, $HOOD was a runner up when a rumor that FTX was in talks to buy it out.
Well, Voyager's financier Alameda Ventures, is the same guy from FTX.
So FTX could easily buy out Voyager.
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