Voyager Digital, a bankrupt crypto firm, has taken steps to compensate creditors by securing $484 million through settlements with FTX, Three Arrows Capital, and D&O insurance claims. This achievement signifies a significant milestone in the company's financial recovery and creditor reimbursement efforts. The majority of the funds, around $450 million, were obtained through a settlement with FTX. Voyager filed for Chapter 11 bankruptcy in July 2022 due to market shocks, including the collapse of the Terra ecosystem. The recent settlements account for 25% of Voyager creditors' claims and are expected to be distributed soon. Additionally, Voyager has received a claim of approximately $675 million from ongoing litigation with Three Arrows Capital. Further payments are anticipated as assets are sold and more settlements are reached. The company also faces challenges such as uncashed checks and a data breach from FTX, with investigations ongoing. Read more AI-generated news on: https://app.chaingpt.org/news
