FTX US Wins Bid For Assets Of Bankrupt Crypto Lender Voyager!

FTX wins bid for assets of bankrupt crypto lender Voyager
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FTX US, part of the FTX Group of Sam Bankman-Fried, has won the auction for the assets of the bankrupt crypto lender Voyager Digital in a bid valued at about $1.42 billion. However, the Voyager claims against hedge fund Three Arrows Capital (3AC) will remain with the bankruptcy estate, distributing any available recovery on such claims to the estate’s creditors. Voyager issued a notice of default for failing to make required payments on a loan of 15,250 bitcoin.

Voyager said the bid was made up of the fair market value of its crypto assets “at a to-be-determined date in the future” estimated to be around $1.3 billion along with $111 million of what it says is “incremental value,” but did not provide further details. The asset purchase agreement between Voyager and FTX US will be presented for approval to the United States Bankruptcy Court for the Southern District of New York on Wednesday, October 19, 2022, and the objection deadline to the transaction is October 12, 2022, at 4:00 p.m. prevailing Eastern Time.


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