FTX will buy bankrupt crypto broker Voyager Digital’s assets

The company does not disclose the amount of the bid with which it won in an auction

16.09.2022 - 09:00

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2 min

What’s new? Cryptocurrency exchange FTX has won the auction for the sale of bankrupt crypto broker Voyager Digital’s assets. According to CoinDesk sources, during the auction, which was organized by the bankruptcy court, FTX competed for the right to buy with Wave Financial, a digital asset investment firm. It was previously reported that crypto exchange Binance was also planning to participate in the auction. FTX did not share information about the amount of its bid.

CoinDesk’s material

What is known about FTX? It is a centralized crypto exchange for trading derivatives headquartered in the Bahamas. It was created in 2018 by trader Sam Bankman-Fried and programmer Gary Wang. As of 2022, the platform has more than one million registered users. The daily trading volume as of September 15 is $1,95 billion, according to CoinMarketCap. There are 340 coins and 524 currency pairs on the platform.

Earlier, it became known that the venture capital arm of FTX will buy a 30% stake in investment company SkyBridge Capital. Part of the financing will be used to place $40 million in crypto investments, which will be held on SkyBridge’s balance sheet.

What is known about Voyager? On July 1, the cryptocurrency broker suspended all operations on its platform. The company had about $685 million in cryptocurrency in its accounts, and the volume of loans issued exceeded $1,1 billion. Of that amount, about half was lent to the bankrupt hedge fund Three Arrows Capital. On July 6, Voyager filed for bankruptcy in a New York court. In August, the US court granted the broker the approval to return $270 million in fiat deposits to customers.

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