A judge has granted a motion authorizing debtors for the defunct cryptocurrency exchange FTX to enter a $450 million settlement agreement with bankrupt firm Voyager Digital. The agreement, approved by Judge John Dorsey in the United States Bankruptcy Court for the District of Delaware, allows Voyager to settle all claims with FTX as part of a plan to compensate creditors.

As per the agreement, $5 million held in escrow by Voyager and an additional $445 million involved in a loan repayment lawsuit from Alameda Research will be released to the firm’s debtors. FTX will also relinquish any and all rights to these funds.

Paul Hage, the attorney representing Voyager Digital and its debtors, signed off on the deal, as did FTX restructuring officer and CEO John Ray III. The settlement is part of Voyager's efforts to reimburse users after the firm filed for bankruptcy in July 2022 amid a crypto market downturn.

In addition to the settlement with FTX, Voyager has obtained a proportionate claim of roughly $20 million from Three Arrows Capital and roughly $14 million from Directors and Officers Insurance. A restructuring plan from May 2023 suggested that Voyager customers could recover 35.7% of their claims in crypto or fiat.

However, Voyager faced legal challenges as well. In October 2023, the U.S. Commodity Futures Trading Commission and the Federal Trade Commission filed parallel lawsuits against former Voyager CEO Stephen Ehrlich for fraudulent statements. These cases were ongoing as of the time of publication.