Filing for bankruptcy, US-based Voyager Digital flatly rejected an acquisition request made by FTX and its subsidiary Alameda Research, calling it a “cutting offer”.
last friday Sam Bankman, CEO of FTX, Voyager Digital proposed a restructuring agreement to the company. According to the proposed plan, Bankman-Fried’s commercial company Alameda ResearchVoyager’s digital assets and digital asset loans at cash market value would buy. However, according to this agreement, another company that went bankrupt, Three Arrows Capitalto (3AC) given 670 million dollar debt would be exempted.
On Sunday, July 24, Voyager’s lawyers responded to the proposal and recorded the following:
The joint offer of Alameda and FTX is nothing more than a liquidation method that gives them an advantage. It’s called a price kill bid dressed as a savior white knight.
According to the statement made by Voyager, the company does not accept any “serious offer“Ready to accept. But the offer from FTX and Alameda, according to Voyager Digital, “Designed to create publicity for Alemeda rather than value for Voyager’s customers”.
In a court filing submitted Sunday, Voyager Digital said FTX’s offer undermined a competitive process. It was also underlined that the offer declared no value for Voyager and its intellectual property. After the offer was rejected in this way, FTX CEO Sam said: twitter made statements in response to it and reiterated that this offer is a customer-oriented savior:
Voyager has lost customers’ assets. But most of the funds are in their hands. Then why are they still not giving the remaining funds to their owners? I don’t know the exact number, but let’s say Voyager owns 75% of the assets. Normally, what should happen is that customers take that 75% and then if some funds can be recovered from 3AC, they should get them too. But that still hasn’t happened. Why? This is how the traditional financial process demands it. Customers take a good beating before they get their funds. This may take years. Funds are frozen during this process. Mt. There are those who remember Gox. The process is still ongoing.
To be clear, thanks to our offer, Voyager customers will be able to get back 100% of the funds remaining in the company. These funds also include funds that can be saved in the future. Who wouldn’t want this offer? Voyager’s lawyers. They may refuse so that the fee they can receive lasts as long as possible. But our offer allows customers to receive their funds immediately.