Crypto Lender Voyager’s Customers Object to Employee ‘Retention Award’ Bid

Voyager, which is currently undergoing bankruptcy proceedings in the U.S. Bankruptcy Court for the Southern District of New York, asked a federal judge to approve $1.9 million of its funds for a “Key Employee Retention Plan” (KERP), meaning bonuses to 38 employees that the company claimed were vital to its continued operation and restructuring. On Friday, the Official Committee of Unsecured Creditors – a group of Voyager customers – objected, saying Voyager’s employees are “already well-compensated,” and arguing that the company has otherwise done little to reduce costs.