Noncustodial Wallets and Their Importance for Your Crypto
— Withdrawals, Wallets, Crypto, Voyager, Noncustodial, Platform, Customer, Case, Users, Account — 1 min read
Voyager is a crypto broker that connects to a variety of crypto exchanges. On July 1, 2022, they suspended trading and withdrawals from their platform. However, just a few days later, they filed for Chapter 11 bankruptcy protection. One of their liquidity issues was the result of 3 Arrows Capital filing for Chapter 15 bankruptcy. 3AC owed Voyager $650 million from unsecured loans. This splits up between 15,250 BTC and $350 million USDC. Voyager is not a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) or the Securities Investor Protection Corporation (SIPC) This means that cash is not SIPC-protected. But the users signed up with Voyager, it appears that users don’t have any luck with having their own insured currency. Source