A Delaware bankruptcy judge, John Dorsey, finally agreed to a $450 million settlement between the now-defunct crypto exchange FTX and the now-bankrupt crypto brokerage Voyager Digital. This ruling was passed on Monday, April 29, 2024.
Voyager’s creditors will stand to gain from this repayment. It is one among several settlements that the company has been able to make since it filed for bankruptcy in July 2022.
The settlement will enable Voyager to obtain $4.5 million from the escrow fund and the remaining $445 million from the lawsuit against Alameda Research, which is associated with FTX’s crypto trading firm. In this manner, FTX terminates both the rights to the funds and personal claims to the funds.
The company is also suing other entities, such as the firm Three Arrows Capital, for fraud. Voyager has proposed a plan that involves repaying its clients 100% of their assets, minus the amount owed to the company.
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