Crypto lending platform Voyager plans to restart withdrawals on August 11.
The platform announced that it suspended users’ trading, withdrawal and deposit transactions due to the liquidity crisis. After a period of about two months, withdrawals are on the agenda again.
Voyager said in a statement that users with US dollars in their accounts can withdraw up to $100,000 in a 24-hour period starting from August 11 and receive these funds within 5-10 business days. Voyager’s announcement comes shortly after the company’s decision to return $270 million in client funds held at Metropolitan Commercial Bank.
“Requests will be processed as soon as possible. However, there will be manual reviews, such as fraud reviews. Recovery of funds will depend on the banks customers are transferring their cash to.”
The crypto lending platform filed for Chapter 11 bankruptcy on July 5, noting that this is part of its plan to help clients get their funds back.
Although Voyager previously rejected acquisition offers from Alameda and FTX, it was later stated that the company was considering a potential sale.
