Discover and read the best of Twitter Threads about #voyagerbankruptcy

Most recents (2)

As many of you know, I've been following the #VoyagerBankruptcy quite closely and was a former director/CIO (resigned in Feb 2021)

I realize many don't have the full story of what happened in one place - a timeline of events

A thread on @investvoyager & @SBF_FTX 🧵 (1/n)
Voyager's lending business has always been rather opaque. Taken from their most recent interim financial statements (Sedar.com), the lenders were hidden forcing the community to speculate on how much risk/exposure there truly was Image
Voyager grew their lending book from $393M in June 2021 to over $2B in March 2022 - a over 400% increase in less than a year

This is despite the CEO assuring investors that there was "no contagion"
Read 27 tweets
1. Another defense against a clawback attempt: #Voyager may not have been insolvent until June 27, the day when 3ac defaulted on its loan.

Disclaimer: I am not a bankruptcy lawyer!

#VoyagerDigital #VoyagerBankruptcy
2. Everyone talks about the 90-day preference period, but the trustee can’t always void payments made during that full period.
3. Under Section 547(b) of the Bankruptcy Code the payment must be made while the bankrupt entity was insolvent.
Read 11 tweets

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