FTX US Crypto exchange has secured in an action that lasted two weeks, the winning bid for the assets of crypto lender firm Voyager Digital Ltd, to be approved by the United States Bankruptcy Court, with a bid valued around $1.42 billion, and the valuation at $1.31 billion.
The Bankruptcy Court on the asset purchase agreement hearing will take place on October 19.
Regarding the Voyager customers, the company noted that the FTX platform “will enable its customers to trade and store crypto after the conclusion of the Voyager Digital Ltd chapter 11 cases“.
The Canadian-listed firm said it received many bids (including bids from Binance and CrossTower) and considered various options, including a reorganization plan, before deciding that FTX offered the best alternative for its shareholders.
Three Arrows Capital
The chapter 11 filing in the Southern District Court of New York Read was for insolvency worth $1 billion after crypto hedge fund Three Arrows Capital (3AC) defaulted on a $650 million loan from the firm, Voyager says its claims against 3AC remain with the bankruptcy estate.
Nikolas has been involved in the finance industry for over fifteen years spanning across Europe and USA with a depth of knowledge and experience within many aspects of the financial markets. Nikolas gained several years experience with some of the Europe’s leading Brokers, as equity analyst, and trader managing accounts for both Private and Corporate Investors. He enjoys both the fundamental and technical aspects of trading focusing on stock markets and all FX majors. Currently, Nikolas provides analysis and comments to online financial publications. Educational background in Economics (BSc), and Finance (MSc).