After the cash withdrawal gates are open, Voyager customers can withdraw up to $100K in cash via an automated clearing house (ACH) transfer. CryptoBankruptcy
On August 4, 2022, the Wall Street Journal reported that Judge Michael Wiles of the U.S. Bankruptcy Court in New YorkThe following day, Voyager detailed in athat it was updating customers on access to cash, and the next steps of the company’s reorganization process. Voyager plans to open up cash withdrawals next week, and funds will be disbursed to people’s accounts around 5-10 business days later.
“We anticipate resuming access to the Voyager app for cash withdrawals only, starting on Thursday, August 11th,” Voyager said on Friday. “Customers with cash in their accounts will receive an email with more details before cash withdrawal access in the app becomes available.” At the same time, Voyager is “simultaneously pursuing a standalone restructuring process and a potential sale of the company.” Bidding for the company begins on August 26 and the sale hearing will be “held on September 8th.”
The U.S. Bankruptcy Court in New York is also giving Voyager customers up until October 3, 2022 to file claims against Voyager, which includes claims for cryptocurrency holdings. Voyager has also created an Official Committee of Unsecured Creditors last month. “Once cash withdrawals are enabled, customers can request withdrawals of up to $100,000 via ACH in a 24-hour period,” Voyager’s blog post concludes.
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