By Larry Wright
Voyager Digital, a crypto management firm, has recently gone bankrupt and even filed for bankruptcy. The company is by far the tenth or twelfth crypto firm to have gone under; given the recent storm, the crypto market is facing consistent ups and downs. The crypto market is struggling consistently, and for that, there doesn’t seem to be an end date, and people and investors are all bleeding cash into this sinking boat that is the crypto market.
Voyager Digital Files for Bankruptcy
Voyager Digital, even having filed for bankruptcy, is giving out compensation bonuses to the employees who worked for the firm before it went under. There are thousands of creditors out there who trusted Voyager Digital with their hard-earned money who are demanding payment and have taken the whole matter to court.
Voyager has given multiple dates to the people involved that they shall compensate each and every creditor, but these have only been that, dates, and nothing else. So far, the creditors have not received as much as a penny from the alleged company that has cost them dearly.
During a recent report, the representatives of the investors or the creditors filed a motion to seize all the liquid assets of the firm and to prevent the firm from paying up its clients who are already well compensated. According to the report, Voyager has to pay about $1.9 million in terms of bonuses to the employees because they are obliged to give them at least 25% of their salaries for the next two months.
Creditors have argued that it is completely unjust because the employees have been receiving at least something from the company while the creditors are still to see their money turn up by the firm. The court has vigilantly heard the pleading of both parties and is yet to announce a decision on the matter, but this has definitely let down the authority as well as the reputation of other crypto businesses and firms who are only trying to earn their bread and butter.