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Texas State Authorities Object To Voyager’s Disclosure Statement

Author: Qadir AK

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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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The Texas State Securities Board (SSB) and the Texas Department of Banking (DOB) made an objection in court to Voyager Digital’s disclosure statement in a pleading submitted with the United States Bankruptcy Court for NY’s Southern District. In July 2022, Voyager Digital filed for bankruptcy under Chapter 11 in New York, offering a recovery plan for investors.

The Texas state authorities said that Voyager’s disclosure statement, which claimed that creditors might get a 70% return, fails to clarify the methodology used to determine average coin values, and that Voyager Digital never had the license from SSB or the DOB and face penalties for doing so. Even the FTX was not authorized for business in Texas.

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