Are Celsius and Voyager bankrupt?

Celsius, Voyager, and Three Arrows are bankrupt. Here's how risky investments, DeFi glitches, and the crypto crash paved each firm's path to insolvency. In an industry that is no stranger to volatility, crypto's market cap is down 66% from its peak. The collapse of crypto hedge fund Three Arrows Capital led to a widespread crypto contagion.

What's the difference between 3AC and Voyager?

While 3AC's liquidators are focused on making creditors whole, Voyager has filed for Chapter 11 bankruptcy, a process where creditors and stakeholders renegotiate the terms of their loans and try to set the company back up for success.

What happened to Celsius?

Celsius also took out collateralized loans totaling $756 million from a variety of platforms, including the DeFi companies Maker, Aave, Compound, and Notional Finance, and the crypto exchange FTX. According to Mashinsky's declaration, Celsius has since repaid those loans and had its collateral returned.

Is 3AC in BVI?

Less than a week later, 3AC filed for Chapter 15 bankruptcy in the US on July 1. 3AC’s assets are (likely) not in BVI, but in the US and Singapore. Chapter 15 allows the BVI court to be recognized in the US — and protects US assets during the liquidation process.