Voyager Digital gets court approval to sell Coinify for $2 million

By Sarah Lizee

Olympia, Wash., Aug. 17 – Voyager Digital Ltd. said indirect wholly owned subsidiary European Holdings ApS agreed to sell all of its equity interests in Coinify ApS to Ascension ApS, an entity owned by members of Coinify management, for $2 million in cash.

An additional, conditional earn-out payment is stipulated in the event of a subsequent sale of Coinify by Ascension within three years following the transaction, thus preserving potential upside for Voyager, the company said in a press release.

Voyager purchased Coinify in August 2021.

Coinify's sale was approved by the U.S. Bankruptcy Court for the Southern District of New York on Aug. 16.

“The sale of Coinify reduces overall headcount by 15% and eliminates Voyager's ongoing funding requirements for Coinify of up to $500,000 per month,” Voyager said in the release.

Voyager Digital is a cryptocurrency broker based in New York. The company filed bankruptcy on July 5 under Chapter 11 case number 22-10945.

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