According to Voyager’s statement today FTX exchangebankrupt Voyager digital and the auction for its assets approx. 1.4 He won with a billion-dollar bid.
FTX Exchange Wins Auction For Bankrupt Crypto Credit Institution Voyager
The offer is stored on Voyager’s platform. cryptocurrency represents more than its actual market value of $1.3 billion. However, the exact price of the deal will be based on prices at a later date.
Voyager’s bankruptcy Three Arrows Capital (3AC) funds from the $650 million loan to 3AC will be distributed to creditors.
The said sale FTX and Binance ended the nearly two-week auction process led by the stock exchanges.
In a statement released today, it was stated that Voyager received multiple sales and restructuring bids, and the auction results concluded that “FTX is the best alternative for Voyager stakeholders.”
Voyager filed for Chapter 11 protection in July of this year and has been in the process of bankruptcy ever since.
During this time, FTX and its subsidiary Alameda were in conflict with Voyager management after they made their bid for the platform public.
Voyager said the firm did not respect the confidential bidding process. He tried to dispel the notion that FTX was ahead early in the process by describing FTX’s offer as a “low price” offer.
This initial plan would give Voyager customers the opportunity to open a new account with FTX, which would provide them with an opening balance on their claim. However, the terms of the proposal, which has now been accepted, have not yet been made public.
Voyager said in a statement that additional information about the timeline for customers to access crypto will be shared in the coming period.
*Not investment advice.
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