U.S. Bankruptcy Judge Michael Wiles approved Voyager Digital's proposed liquidation plan at a court hearing in Manhattan, allowing the company to return approximately $1.33 billion in crypto assets to customers, or 35% of total customer deposits, and end the bankruptcy under U.S. bankruptcy law. reorganization carried out. Voyager filed for Chapter 11 bankruptcy last July amid volatility in the crypto market and the default on a large loan to crypto hedge fund Three Arrows Capital (3AC). Following its bankruptcy, Voyager attempted to sell its assets to FTX for $1.42 billion, but the deal failed as FTX went bankrupt last November. Last month, Voyager said it would self-liquidate its assets and shut down the business after Binance US backed out of a deal to acquire Voyager assets for $1 billion. Asset recovery for Voyager customers is largely dependent on the outcome of the lawsuit with FTX. FTX is seeking to recover a $445.8 million loan repayment to Voyager prior to its bankruptcy. If Voyager prevails in the FTX lawsuit, customers would have expected a recovery rate of 63.74 percent, according to court documents. Voyager plans to repay customers using the same type of cryptocurrency that is in the customer's account. For cryptocurrencies that Voyager does not support, as well as Voyager's proprietary VGX token, Voyager will use the stablecoin USDC to repay customers.