Home
News
- FTX US, an easy to use crypto exchange to buy, sell and store cryptocurrencies has acquired the winning bid for the assets of crypto brokerage company Voyager Digital, to be accepted by the United States Bankruptcy Court, having a bid estimated at approx $1.4 billion, as per the Voyager.
Voyager revealed that the bid was created of the fair market value of its crypto holdings “at a to be set date in the coming days” calculates to be almost $1.3 billion as well as $111 million of what it says is “additional value” but didn’t gave more informations.
The small detail was given about what will happen to Voyager clients still anticipating approach to their crypto holdings, with Voyager giving further details regarding crypto assets “will be shared as it becomes accessible.”
Voyager only noted that the FTX US exchange “will permit clients to trade and keep crypto after the summarization of the firm’s chapter 11 bankruptcy files.”
The media wished to get in touch with FTX and Voyager Digital for interaction but did not got any reply.
The sale of the assets will be tentatively finished after the chapter 11 case, and as asset buying compliance is given for the approval through the U.S. Bankruptcy Court for the Southern District of New York on October 19.
Prior to FTX US, Binance and CrossTower has also given bids sideways the exchange to get Voyager’s assets, each offering their own conditions. A source declared that Voyager clients will get their pro rata share of crypto assets and shift to the FTX platform if its bid wasn’t a failure.
The chapter 11 bankruptcy
Voyager went for the Chapter 11 bankruptcy on July 5, occasionally referred as a “reorganization” bankruptcy, it permits a company to keep control of its assets and carry on running at the same time, it perepares to restructure or sell the business.
The filing was for a bankruptcy that valued more than $1 billion after crypto hedge fund Three Arrows Capital (3AC) reverted on a $650 million loan from the company, Voyager says its claims against 3AC remain with the bankruptcy estate.
The company keeps its chapter 11 filing was “targeted at giving the maximum worth to the clients back” and also acknowledged a reorganization, but said the sale to the exchange wad the “best option for Voyager stakeholders.”
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.
