Angry Crypto Owners Caught in Voyager, Celsius Bankruptcy Brawls

A certain breed of retail investors piled their money into crypto for its anti-establishment qualities. Avoiding big banks or hidebound regulators sweetened the taste of uncanny returns. Crypto firms stoked that sentiment, pulling in investor money by promising a world of “unparalleled economic freedom,” as Celsius Network put it, or to make “crypto for all” a reality, in the words of Voyager Digital.

But now millions of crypto fans—and their money—find themselves trapped in a different kind of reality. Companies they trusted with their cryptocurrency have failed, and their assets are stuck in bankruptcy court, one of the ...