Judge Michael Wiles approved Voyager’s liquidation proceedings Wednesday, about a month after Binance.US terminated its agreement to buy the cryptocurrency platform.
According to court documents, Voyager customers will receive about 36% of what they are owed, but their refunds could increase if the firm manages to settle with FTX.
In total, the company will pay out about $1.33 billion in crypto-assets to its customers.
Customers can expect withdrawals starting June 1, with any additional payments contingent on the outcome of future litigation.
Voyager plans to reimburse customers for the same cryptocurrency they kept in their accounts.
Earlier in May, the company filed a formal notice to begin liquidation proceedings in the bankruptcy court for the Southern District of New York.
Recall that the cryptocurrency broker filed for bankruptcy back in July 2022, and since February of this year began to actively sell its assets.