Crypto Lender Voyager Reopens Process To Find New Buyer Following FTX Bankruptcy

Crypto Lender Voyager Reopens Process To Find New Buyer Following FTX Bankruptcy.

Following the bankruptcy of crypto exchange FTX, failed crypto lender Voyager Digital has reopened their bidding process for their assets again.

Voyager Digital Reopen Bidding Process

The firm said in a press release, ” today announce that the company is evaluating strategic options as a result of the Chapter 11 filing by FTX Group. The no-shop provisions of the Asset Purchase Agreement between Voyager and FTX US are no longer binding”.

The release further stated, “For this reason, Voyager has reopened the bidding process for the company, and is in active discussions with alternative bidders. Voyager and the UCC are moving with all due care and deliberate speed to identify an alternative plan of reorganization consistent with the core objective throughout this process: maximizing the value returned to customers and other creditors.”

Voyager also further clarify that they have not transferred any assets to FTX US following their agreement, and FTX has submitted $5 million as part of the auction process which is in escrow.

Read More: FTX Files For Bankruptcy In The US, SBF Net Worth Down To $0

Previously, Alameda Research and Voyager agreed that 6,500 BTC and 50,000 ETH in loans from Alameda Research will be returned by 30th September 2022, and Voyager confirmed they have been successfully recalled by Voyager and they have no open loans with any borrowers at the moment.

Voyager also had a balance of about $3 million at FTX at the time of FTX Group’s Chapter 11 filing, largely made up of locked LUNA2 and locked SRM that it was unable to withdraw because they are still locked and subject to vesting schedules.

Read More: Crypto Lender Genesis Trading Exposes a $175M of funds are Locked on FTX 

In July of 2022, Voyager Digital has filed for bankruptcy and back in September, FTX has won the bid to acquire Voyager Digital for $1.4 billion.

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