FTX buys Voyager Digital’s assets for $1,42 billion
The crypto broker has retained the right to claims against hedge fund Three Arrows Capital
27.09.2022 - 07:30
531
2 min
0
What’s new? Cryptocurrency exchange FTX bought the assets of the bankrupt crypto broker Voyager Digital for $1,42 billion after winning the auction. According to Voyager’s statement, this amount includes a fair market value of all cryptocurrencies in the company’s accounts of $1,31 billion, as well as $111 million of incremental value. According to Reuters, the broker has retained claims against cryptocurrency hedge fund Three Arrows Capital, which is also going through bankruptcy proceedings. They will remain as part of the bankruptcy estate, and the Voyager team will distribute all recovery received among the creditors.
What happened before? On July 1, Voyager announced a temporary suspension of all operations, and on July 6 it filed for bankruptcy. At the time, its liabilities were estimated to be in the range of $1 billion to $10 billion, and the number of creditors exceeded 100 000.
In July, Voyager’s lawyers criticized an offer by FTX and Alameda Ventures to buy back the platform’s digital assets and loans. The offer was deemed disadvantageous, noting that it could have harmed customers, jeopardize other potential deals and disrupt the bidding process itself.
Herewith, after the auction, it became known that the company Alameda Research, owned by FTX CEO Sam Bankman-Fried, would close the debt of $200 million to Voyager’s creditors. The payment will be made in the form of 6 553 BTC and 51 204 ETH.
Useful material?
Incidents
Scammers took advantage of the former US president’s recent announcement of a real DeFi protocol
Sep 4, 2024
Technologies
The upgrade is aimed at implementing a new decentralized project governance system
Sep 2, 2024
Incidents
The company placed $2б4 billion in bonds maturing in 2026, but their value has fallen dramatically since the entrepreneur’s arrest
Aug 30, 2024
Incidents
In both cases, depending on the outcome of the investigations, the messenger could be blocked
Aug 29, 2024
Market
The project will offer a decentralized alternative to traditional banking services
Aug 29, 2024
Trends
Within a week of its launch, the platform managed to overtake its main competitor, Pump.fun on the Solana network
Aug 28, 2024