Tuesday, December 6, 2022
HomeTechnologyVoyager Digital Auction: FTX becomes top bidder to acquire Voyager Digital assets

Voyager Digital Auction: FTX becomes top bidder to acquire Voyager Digital assets

According to filings filed with the court, currently, FTX is the top bidder in the process to buy the assets of Voyager Digital, a cryptocurrency lender that filed for bankruptcy in July.

Moelis & Company, the investment bank of Voyager Digital, reportedly conducted an auction for the crypto lender Voyager Digital asset’s on September 13th, according to a court document issued by the United States Bankruptcy Court for the Southern District of New York in New York City.

FTX outperforms its counterparts to acquire Voyager Digital

FTX outperforms its counterparts to acquire Voyager Digital
FTX outperforms its counterparts to acquire Voyager Digital

 

There were 88 different parties interested in purchasing the assets, according to the legal representation for Voyager. Even though none of the identities of the interested firms were publicly revealed, FTX and Binance have both shown interest in Voyager’s assets in the past.

Cryptocurrency exchange FTX is said to have outbid digital asset investment firm Wave Financial in the auction for Voyager’s assets, however it is not known how much money FTX offered for the company’s holdings.

Voyager is trying to generate liquidity via the sale of its assets so that it can pay its clients, whose monies have been frozen since July 1st. The paperwork filed in court states that the identity of the successful bidder would not be disclosed until the 29th of September.

After this date, it is anticipated that efforts will be made to commence the potential reimbursement of creditors and users whose money have been locked down. Since it filed its Chapter 11 bankruptcy petition on July 6th, Voyager has also been reorganising its business operations.

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Reporter
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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