Voyager Digital, a crypto broker that filed for bankruptcy last year, has announced that it will liquidate its assets and wind down its business. The decision comes after failed attempts to sell the company to FTX US and Binance US due to regulatory hurdles and other issues.

The company’s customers will be able to recover only 36% of their crypto holdings, which is significantly lower than the 72-73% they would have received if the Binance US deal had gone ahead. However, Voyager could potentially increase this percentage if it wins a legal dispute with Alameda Research, a crypto trading firm that is claiming $446 million from Voyager’s estate.

Voyager has stated that customers will be able to withdraw their funds directly if they have any of the 67 supported tokens, such as Bitcoin and Ether. However, some tokens that cannot be withdrawn will be sold and converted to cash for customers.

The company has expressed hope that initial distributions to customers will begin in the next few weeks, although objections from creditors or other parties could potentially delay the process.

The news of Voyager’s liquidation underscores the challenges faced by some crypto firms in the current regulatory environment. While the crypto industry has grown rapidly in recent years, it continues to operate in a largely unregulated space, and many regulators around the world are still grappling with how to oversee the sector effectively.

Despite these challenges, many crypto companies remain optimistic about the industry’s long-term potential. With the rise of decentralized finance (DeFi) and other innovative technologies, the crypto landscape continues to evolve rapidly, and many investors believe that the sector has significant growth potential in the years to come.

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