Former Voyager Executive Toys With Competing Restructuring Plan

An erstwhile executive of bankrupt crypto lender Voyager Digital Ltd. is exploring a competing restructuring plan that would oust existing management and take the platform out of the lending business.

Former Chief Innovation Officer Shingo Lavine -- along with his father and another Voyager shareholder -- explained the broad strokes of their proposal in a bankruptcy court filing Thursday. Lavine left Voyager in early 2021 amid disagreements over the company’s direction, according to the filing.

In the plan, Lavine envisions a restructured Voyager that does not lend crypto and instead is focused on digital asset trading and customer security. Lavine ...