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Voyager Digital Can Repay Customers with USD 270M MCB Holdings, Judge Rules

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The troubled crypto platform Voyager Digital has been given the green light to return USD 270m worth of funds to its customers.The move was approved by the Bankruptcy Court in New York where the company’s case is being heard, the Wall Street Journal reported.The presiding judge, Michael Wiles, was quoted as stating that Voyager had provided “sufficient basis” to back up its claims that customers should be allowed to make use of the funds the company holds in a custodial fiat account at the Metropolitan Commercial Bank (MCB).Bigger question marks still remain over the company’s cryptoasset holdings, however.

Voyager’s bankruptcy filings show that the company has over 100,000 creditors. As reported, the company claims it has over USD 110m of cash and crypto on hand, in addition to more than USD 350m of cash held in the For Benefit of Customers account at MCB.

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