Voyager Account Holders Likely Won’t Get All Their Crypto Back

Account holders at now-bankrupt Voyager Digital Ltd. shouldn’t expect to get all their crypto back as the company reorganizes.

The crypto brokerage and lender filed for Chapter 11 bankruptcy late Tuesday, renewing unresolved legal questions about how digital assets will interact with US insolvency law. One thing is certain: Voyager doesn’t intend to simply give users back their Bitcoin, Ether and other assets stored on the platform.

The company’s plan to exit bankruptcy plainly says it expects account holders to be “impaired” by the Chapter 11 process, meaning they won’t be getting back exactly what they’re owed. Voyager intends to ...