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The recent bankruptcy filing by Voyager Digital has got several investors worried that they could lose millions of their invested funds. One user, who chose the name Robert for anonymity, said he invested nearly six figures or 70% of his entire life savings in the entity. He says now he is feeling lost on what to do next.
Voyager Filed For Bankruptcy On July 6
At the start of this month, Voyager suddenly blocked withdrawals on its platform following reports of liquidity. The company seems to have been hit hard by the $650 million loan default of Three Arrows Capital (3AC) owed to the firm. Although Alameda released a $500 million loan to the firm, Voyager still filed for bankruptcy on July 6, which has got several investors worried about their funds.
Your capital is at risk.
“Every day, honestly, I cry,” Robert said, adding that he doesn’t know what to tell his wife who trusted him to make the proper decision.
Robert says he has been investing for six years. He added that although he had carried out extensive research on Voyager before investing. However, he would never have considered investing if he knew Voyager will lend customers’ funds to a hedge fund.
Popular Crypto Influencers Could Lose Millions Of Dollars
Popular crypto influencer Scot Melker said he has invested seven figures worth of funds on Voyager. He added that the over-exposure of Voyager is an embarrassment to him, who stated that his millions of dollars are on the line. Melker added that the embarrassment comes from the fact that he has advised several investors about protecting their assets and risk management.
Melker, who has 121 subscribers on YouTube and 851,000 followers on Twitter, said he is more devastated after promoting Voyager to his follower rather than the millions he will lose.
The executives of Voyager have outlined processes for reorganizing the company’s business into a new entity. But it’s not clear whether the actions will lead to full compensation for the investors.
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