Cryptocurrency broker Voyager Digital Ltd. said that it has filed for Chapter 11 bankruptcy in New York.
The bankruptcy was filed days after the company suspended withdrawals and trading on its platform. The company has said that it will seek recognition of the case in its home country Canada, where it is listed.
According to The Block, per the petition for Voyager Digital Holdings, estimated assets are between $1 billion and $10 billion, with between $1 billion and $10 billion in estimated liabilities. The estimated number of creditors exceeds 100,000.
Currently, three business entities - Voyager Digital Holdings, Voyager Digital LLC and Voyager Digital, Ltd. - are seeking protection.
The three largely identical petitions were submitted via the Southern District of New York bankruptcy court.
Last week, Voyager halted users' access to withdrawals, deposits and trading, citing the present market conditions. "This was a tremendously difficult decision, but we believe it is the right...
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