Toronto Stock Exchange Delists Voyager Digital Following Bankruptcy Filing

Vignesh Karunanidhi
Toronto Stock Exchange Delists Voyager Digital Following Bankruptcy Filing
Source: Play Crazy Game

Following the bankruptcy filing, the shares of Voyager Digital have been delisted from the Toronto Stock Exchange. The decision was a follow-up of the exchange’s in-depth review of Voyager Digital’s stock to ensure whether the stock meets the listing requirements of the exchange.

The Investment Industry Regulatory Organization of Canada made the announcement on Wednesday. The trading of Voyager Digital stocks on the Toronto Stock Exchange was halted at 8 a.m. ET. The shares of Voyager have also been halted in the US. A detailed review of the delisting has also been announced by the stock exchange.

Source: TechnoPixel

Voyager Digital files for bankruptcy

Voyager D paused all activities on the platform, including trading and deposits recently. The platform filed for Chapter 11 bankruptcy following the halt of its activities.

The Southern District of New York received a Chapter 11 bankruptcy filing from Voyager D. The filling included all of its corporate entities, including Voyager Digital Holdings, Voyager Digital LLC, and Voyager Digital, Ltd. According to reports, Kirkland and Ellis LLP is representing the company.

Source: Cryptoslate

There were more than 100,000 creditors, according to the document. Assets were believed to be worth between $1 billion and $10 billion. The company entails over $110 million in cash and a few cryptos while it navigates bankruptcy. This will be used to facilitate the company’s regular operations. Customers who have USD deposits in their accounts must wait until the Metropolitan Commercial Bank’s processes for reconciliation and fraud protection are finished.

The crypto bear market is proving to be extremely difficult for financial firms, investors, and the general crypto market. Ever since the fall of Terra, the market began to flip into a prolonged bear market. The harsh market conditions are causing firms to lay off, halt activities, and many more to even close down completely.