Court Allowed Voyager To Return $270 million To Customers

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The Bankruptcy Court in New York has approved the return of funds to customers of Voyager crypto lender

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The company currently has $270 million in its depository account with the Metropolitan Commercial Bank (MCB), writes The Wall Street Journal

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Announced on July 1 a temporary suspension of trading, deposits and withdrawals, and on July 5 filed for Chapter 11 bankruptcy in a New York court

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This means reorganizing the firm while retaining control of its operations under judicial oversight

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Now the court must decide what will happen to the over $1 billion worth of crypto currencies that remain on the Voyager platform

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At the end of July, the company rejected the offer of the FTX Trading Ltd exchange

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Its investment arm Alameda Ventures Ltd. about the redemption of their digital assets

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Voyager’s lawyers say the proposal could potentially harm its clients

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