Voyager app could soon reopen to distribute funds to creditors

Voyager customers will start to receive communications about the app reopening in advance of June 20

June 14, 2023 05:10 pm

mundissima/Shutterstock modified by Blockworks

Approaching a year since their assets were frozen, Voyager customers are for the first time primed to be able to withdraw a chunk of their crypto.

In a Wednesday court filing, plans were outlined for Voyager’s platform to reopen to customers between June 20 and July 5 so that creditors could withdraw about 35% of their crypto.

Bankrupt crypto lender Voyager shuttered its core business lines in July 2022, halting customer deposits and withdrawals in the process.

Paul R. Hage, the overseer of the crypto lender’s bankruptcy proceedings, in the filing told creditors that they would be able to view the projected amounts of their initial distributions via Voyager’s app on Friday.

Newsletter

Subscribe to The Breakdown

Added Hage: “The initial distributions of cryptocurrency will be made to creditors between three to seven calendar days after a withdrawal request is submitted on the Voyager platform.”

The move comes a little over a month after a judge allowed Voyager and its counterparties to move forward with liquidation of the company. Voyager had previously been vying to restructure via a Chapter 11 bankruptcy proceeding.

The company at the time said it intended to return around $1.3 billion to customers. A Reuters report in May said estimated recoveries would be around 35%.

A number of factors dictate the amount of capital customers and other crediorts are able to reclaim from a bankrupt business.

Among them: the resolution of ongoing litigation. In Voyager’s case, open proceedings involving Three Arrows Capital and FTX would significantly boost Voyager’s assets on hand, which could be funneled back at a more substantial scale to its customers.

Voyager is seeking approximately $445 million in loan repayments from FTX. Its claim against 3AC has clocked in at $650 million, per the court filing.

After Binance.US bailed on its $1 billion purchase of Voyager’s assets, the company scrambled to find a new solution.

Get the news in your inbox. Explore Blockworks newsletters:

The Breakdown: Decoding crypto and the markets. Daily.
0xResearch: Alpha in your inbox. Think like an analyst.

Tags

Newsletter

The Breakdown

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Digital Asset Summit 2026

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

buy tickets learn more

recent research

Research

ERC 8004: Introducing Trust for AI Agents

ERC 8004 introduces a new trust layer for AI agents by standardizing onchain identity, reputation, and validation. As agents begin handling capital and coordinating autonomously, trust becomes the key constraint to broader adoption. The rollout mirrors the early x402 narrative, where adoption lagged the initial launch until major integrations and a viral use case pulled attention into the ecosystem. If ERC 8004 follows a similar path, downstream infrastructure tied to the standard could see outsized benefit as the narrative gains traction. The primary beneficiaries are likely to be agent frameworks and launchpads at the distribution layer, agent to agent coordination platforms that enable delegation and payments, and validation providers that offer stronger security and execution guarantees.

by Kunal Doshi