Voyager creditors subpoena more executives from FTX and Alameda

ambcrypto.com:

In a new court filing , the unsecured creditors’ committee of Voyager Digital has issued subpoenas to top executives from FTX and Alameda Research. 

This comes two weeks after the bankruptcy administrators issued similar summons to founder and former CEO Sam Bankman-Fried, former Alameda chief Caroline Ellison, FTX co-founder Gary Wang and the exchange’s head of product, Ramnik Arora.

Read Voyager [VGX] price prediction 2023-2024

In the latest court filing, the summoned executives are expected to appear for depositions on 23 February. The newly issued series of subpoenas form part of efforts by Voyager’s creditors toward investigating FTX’s efforts to bail out the crypto lender when it went bankrupt in July 2022.

At press time, VGX exchanged hands at $0.5164. Despite experiencing a 71% increase in value year-to-date as a result of the overall market rally, the token’s worth has plummeted by more than 50% following Voyager’s bankruptcy announcement in July 2022.

With lingering uncertainty about the exact date when investors and users of the bankrupt crypto lender will be made whole, VGX has been trailed by negative sentiments since 1 December 2022.

Data from on-chain data provider Santiment showed the token’s weighted sentiment to be pegged at -0.152 at press time. 

Moreover, holders continue to log losses despite the recent rally in the alt’s price in the last month. Per data from Santiment, since Voyager declared bankruptcy seven months ago, VGX’s MVRV ratio has been negative.

The latest price growth did not change that. At press time, VGX’s MVRV ratio was -90.88%. 

When a crypto asset’s  MVRV  is less than zero, it implies that the average investor who holds that particular cryptocurrency is making a loss on