Crypto lender Voyager Digital says it plans to 'restore access' to its customers’ cash deposits on Aug. 11.
Crypto-lender Voyager Digital said Friday it plans to"restore access" to cash deposits on Aug. 11, the company's first step in returning up to $270 million in fiat currency to its customers., gained court approval Thursday to honor customers' dollar withdrawal requests from Metropolitan Commercial Bank, where Voyager had a deposit account. In a blog post, Voyager said it could take 5 to 10 days to process return requests.
Voyager, which is helmed by CEO Steve Ehrlich, filed in July for bankruptcy protection after suffering massive losses stemming from theand the broader crypto-market downturn. Its customers had lent it billions of dollars in crypto assets. Those tokens remained locked up for now. In the blog post, Voyager said it is"pursuing a standalone restructuring process" in an effort to"maximize the value of crypto on the platform."
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