Investors lament potential loss of 'millions' on Voyager bankruptcy
One user, called Robert for anonymity, said he put about six figures on Voyager, representing 70% of his savings, and feels lost on what to do to move forward.
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Many investors are reeling from Voyager Digital's recent bankruptcy filing, with some claiming to have either millions in crypto assets or most of their savings tied up on the crypto exchange.
As previously reported, Voyager suspended withdrawals earlier this month due to its cash flow problems following Three Arrows Capital's (3AC) default on a $650 million loan from the company. Although Alameda provided the company with a $500 million loan in June, Voyager filed for bankruptcy on July 6.
In a July 9 post, Fortune spoke with several Voyager users reeling from the recent bankruptcy filing. Some have put almost all of their savings on the platform, while others have millions hanging in limbo.
One user, called Robert for the sake of anonymity, said he placed about six numbers on the platform, which represents 70% of his savings.
"Every day, honestly, I cry," Robert said, adding, "I don't know what to say to my wife. As partners, we decided to [invest in Voyager], but she trusted, more than anyone, to make the right decision."
As an investor for six years, Robert went on to note that while he had conducted a relative amount of research on Voyager before using the platform, he never would have if he did. had known that the firm was going to loan client funds to a hedge fund:
"I had no idea that Voyager would loan [the clients' USDC] to a hedge fund. If I had known it might be loaned, I probably would have kept it cash in... .
One user, called Robert for anonymity, said he put about six figures on Voyager, representing 70% of his savings, and feels lost on what to do to move forward.
New
Many investors are reeling from Voyager Digital's recent bankruptcy filing, with some claiming to have either millions in crypto assets or most of their savings tied up on the crypto exchange.
As previously reported, Voyager suspended withdrawals earlier this month due to its cash flow problems following Three Arrows Capital's (3AC) default on a $650 million loan from the company. Although Alameda provided the company with a $500 million loan in June, Voyager filed for bankruptcy on July 6.
In a July 9 post, Fortune spoke with several Voyager users reeling from the recent bankruptcy filing. Some have put almost all of their savings on the platform, while others have millions hanging in limbo.
One user, called Robert for the sake of anonymity, said he placed about six numbers on the platform, which represents 70% of his savings.
"Every day, honestly, I cry," Robert said, adding, "I don't know what to say to my wife. As partners, we decided to [invest in Voyager], but she trusted, more than anyone, to make the right decision."
As an investor for six years, Robert went on to note that while he had conducted a relative amount of research on Voyager before using the platform, he never would have if he did. had known that the firm was going to loan client funds to a hedge fund:
"I had no idea that Voyager would loan [the clients' USDC] to a hedge fund. If I had known it might be loaned, I probably would have kept it cash in... .
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