Home News Cryptocurrency Voyager plans to resume dollar withdrawals on August 11

Voyager plans to resume dollar withdrawals on August 11

Voyager plans to resume dollar withdrawals on August 11

Cryptocurrency lender Voyager Digital Holdings has reported that users will be able to withdraw funds from the app more than a month after suspending trading, deposits, withdrawals, and loyalty rewards.

In a blog post on Friday, Voyager said customers with US dollars in their accounts would be able to withdraw up to $100,000 in a 24-hour period beginning August 11, with funds to be received in 5-10 business days. . The announcement came after a judge ruled Thursday that the crypto lending firm was authorized to return $270 million in customer funds deposited at the Metropolitan Commercial Bank in New York.

“Requests will be processed as quickly as possible, but will require some manual review, including fraud checks and account reconciliation, and timelines will depend, in part, on each of the banks to which customers transfer their money. Voyager said.

Voyager announced in June that it had reached a $500 million loan agreement with trading firm Alameda Research due to losses stemming from its exposure to Three Arrow Capital, which has also reportedly been ordered wound up by a court of the British Virgin Islands. The crypto lending firm filed for Chapter 11 bankruptcy in the Southern District Court of New York on July 5, saying at the time that the move was part of a reorganization plan that would eventually allow users to access your accounts again.

Read:  August Fortnite Club Includes X-Men Wolverine Skin

Although Voyager rejected a takeover offer from Alameda and FTX in July – saying at the time that it was not “maximizing value” for its customers – the company said on Friday it was still considering a possible sale of the company. Following the court’s approval of the bidding procedures, Voyager said bids must be submitted by August 26 and a hearing on the potential sale will be held on September 8.

Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.

Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.