Cryptocurrency platform Voyager Digital Ltd has filed for Chapter 11 bankruptcy with a New York court.
According to the submitted request, Voyager’s assets range between $1 billion and $10 billion, its liabilities range between $1 billion and $10 billion, and has more than 100,000 creditor customers.
The company said it hopes to provide liquidity to compensate the affected creditors who do not have insurance.
Chapter 11 is one form of bankruptcy whereby a person or company is forgiven for some debts while liquidated assets are sold to pay priority debts.
