Texas officials don’t like the way Voyager’s disclosure statement is written right now. 

The Texas State Securities Board (SSB) and the Texas Department of Banking (DOB) objected to Voyager Digital’s disclosure statement in court. They questioned the different methods and calculations that were used to figure out what the crypto assets of the exchange that went bankrupt were worth on the open market.

In a document filed with the United States Bankruptcy Court for the Southern District of New York, lawyers for the SSB and DOB argued against the order that said Voyager’s amended disclosure statement was sufficient. In July 2022, Voyager Digital filed for Chapter 11 bankruptcy in New York and gave investors a plan for how they could get their money back.

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