What Happens to Your Crypto If an Exchange Goes Bankrupt?

Crypto platforms Celsius and Voyager Digital filed for bankruptcy in July 2022. Both froze customer accounts first, which left users unable to reach their assets. The filings raised a basic question. If an exchange fails, what happens to the crypto people had stored on it? This article uses the figures reported by CNBC in July 2022 to lay out the facts. It covers the debts involved, the protections that exist for bank and broker customers, and where crypto users stand when a platform fails. The short answer from legal experts is that recovery is slow and often partial.