Voyager Gets FTX: One Step Left to Sell!

bankruptcy judge in the Southern District of New York Voyager‘s assets FTXIt removed all barriers to the upcoming creditor vote by approving its plan to sell to .

Judge Michael Wiles signed the asset purchase agreement late yesterday, signing the assets of Voyager to FTX. 1.4 billion He took one more step towards the completion of his dollar sale.

Voyager Urges Creditors to Vote Yes to Court-Approved FTX Sale

The embattled lender filed for bankruptcy in July after halting withdrawals. Customers and creditors have been waiting to get their funds back ever since.

During the auction process, Voyager accepted an offer from FTX that will allow users to access what is left of their assets on the FTX platform with their newly created FTX account.

At Wednesday’s hearing, lawyers told the court they expect creditors to recoup 72% of their assets through settlement.

The final purchase price of Voyager’s crypto assets has yet to be determined. The plan will use a 20-day historical average for the price.

How much customers will get paid will depend on this price mechanism, but customers will depend on their demand. cryptocurrency, USDC and fiat money they will get their money through the mix.

Only those who choose to switch to the FTX platform will be eligible to receive their payment in crypto. Those who do not switch will receive cash from Voyager assets.

However, the FTX platform does not yet support the Voyager token. As of now, FTX has offered a $10 million price to buy the entire VGX (Voyager token).

With the agreement approved by the court, the agreement was one step closer. Next up is the creditors vote, and in its Voyager post, it urged customers to vote in favor of the plan before the November 29 deadline.

“We urge all customers and creditors to vote in favor of the plan, as we believe the Plan, including the sale to FTX, maximizes recoveries for Voyager’s creditors,” the company said in a statement.

*Not investment advice.