On July 1, 2022 Voyager Digital paused all customer trading, deposits, and withdrawals.
Almost a year later the Voyager app has been reopened and you are now able to view your initial recovery and take steps to prepare for crypto transfers.
Crypto transfers will be enabled on or about June 20, 2023, at which point the 30-day crypto transfer window begins. Be on the lookout for additional communications from Voyager and the Wind-Down Debtors over the coming weeks, including the announcement the app is open for transfers, which will be communicated via email. Any crypto that remains on the platform after the 30-day window will be liquidated to cash.
Prepare to access and transfer your crypto when the 30-day window opens.
- Have an account with a US-based exchange or non-custodial wallet.
- Have the latest version of the Voyager app installed on your device.
- Be sure you can successfully login to the app.
- Review your crypto holdings on the app.
- Confirm that any existing accounts(s) or wallet(s) you have can receive each of the tokens that you will transfer.
How much will I recover ?
Based on your portfolio’s July 5, 2022 value, your dollarized initial recovery is 35.72% of your total claim amount.
Supported tokens are being paid in-kind. All unsupported tokens, after being rebalanced to the 35.72% initial recovery, will be liquidated and your initial recovery will be paid in USDC equivalent.
In order to calculate the coin balance included in your initial recovery, please refer to the below explanation and table:
On July 5, 2022, 1 BTC was valued at $20,157.69
A claim for 1 BTC on July 5, 2022 would be $20,157.69
To calculate your dollarized initial recovery amount, take the dollar value of 1 BTC on July 5 ($20,157.69) and multiply it by the recovery percentage of 35.72%
This represents the initial recovery amount in USD $7,200.33 ($20,157.69 * 35.72%)
The VWAP for BTC on March 20, 2023 was $27,910.30
In order to calculate the initial distribution quantity for 1 BTC, take the dollarized initial recovery value of 1 BTC on July 5, 2022 ($7,200.33) and divide it by the BTC VWAP on March 20, 2023
The amount of BTC rebalanced would be: 0.25798 BTC ($7,200.33 / $27,910.30)
This calculation was included in the Plan and in the liquidation procedures that were approved by the Bankruptcy Court.
Supported Coin Examples — received in-kind
This initial recovery does not include any future recoveries that may result from asset sales or litigation matters.
https://cases.stretto.com/public/x193/11753/PLEADINGS/1175306142380000000027.pdf
