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On 13th September, 2022, auctions for Voyager Digital began to take place. The Midtown office of the crypto lender’s investment bank Moelis & Company was decided for the venue of this auction. Although it was expected to wind up by Tuesday itself, it can stretch more than the scheduled time if needed. A document of the US Bankruptcy Court at New York Southern District revealed the Voyager Digital auction.
The document noted the auction scheduled for Tuesday, 13th September, was to be held by Moelis & Company. The auction specifically included assets belonging to the bankrupt crypto lending firm.
Results of final bids during the action will be announced by 29th, September, 2022.
Until the auction, there was no information disclosed regarding the participants. However, the company has been in contact with about 88 different companies as it stated last year. Meanwhile, out of these companies about 22 are still in continued contact with the crypto firm.
Most prominent one’s include crypto exchanges like FTX and Binance. The Bahamian crypto exchange, FTX even offered 15 million USD to Voyager for customer information as well as an undisclosed amount for its assets, excluding the default loan amount to Three Arrows Capital (3AC). But the crypto lender rejected the offer calling it a “lowball bid.”
Voyager Digital was among the prominent firms across crypto space. However, it fell into battling situations following the recent crypto market downturn. This led the crypto lender suspending its operations related to withdrawal.
Although the firm was also encountered with distrust at several instances. For example, it assured its customers to be completely baked by the Federal Insurance Company (FDIC).
FDIC is an agency responsible for supplying deposit insurance to different depositors within American depository institutions. Despite being supported by such a prestigious agency, Voyager had to face the situation that it had been through. This raises questions as well as skepticism for the crypto lending firm.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
