No products in the cart.
- Latest
- Trending
ADVERTISEMENT
A U.S. court has approved the first step in a deal in which cryptocurrency trading platform FTX will buy the assets of troubled digital asset lender Voyager for more than $1.4 billion.
in a new company blog postVoyager says a court has approved entry into a $1.42 billion deal with FTX to see the crypto exchange acquire its crypto assets.
FTX’s bid included the fair market value of all of Voyager’s digital assets as of Sept. 26, worth a total of $1.31 billion and $111 million to repay creditors. million dollars secured.
Voyager is now asking customers to vote on its “plan,” which it says will maximize financial recovery for creditors of cryptocurrency lenders.
Voyager and its affiliated debtors believe that a sale to FTX US is in the best interest of all stakeholders and ultimately the best possible and only viable transaction.
As such, Voyager and its related debtors are strongly encouraged to vote in favor of the Plan by submitting ballots in a timely and appropriate manner before the November 29 deadline. ”
According to Voyager, only customers who successfully migrate to FTX will be eligible to receive crypto assets supported by the exchange platform as rewards, while those who choose not to do so will receive cash.
Value could be returned to customers through a combination of physical crypto, USDC [USD Coin]and USD, depending on the nature of the customer’s claim, whether and when the customer migrates to FTX US, and the specific coins supported by the FTX US platform.
Only customers who migrate to FTX US are eligible to receive cryptocurrency as part of their plan distribution. Customers who have not migrated to FTX US will receive a cash distribution from the Voyager bankruptcy estate. ”
FTX, owned by billionaire Sam Bankman-Fried, beat out fellow crypto exchange platform Binance in a bidding war to acquire a bankrupt crypto lender earlier this month.
Just a few days ago, it was announced that Texas financial regulators would be investigating FTX for allegedly selling unregistered securities.
Don’t miss a beat subscribe to get encrypted email alerts delivered straight to your inbox
Price action confirmation
Please follow us twitter, Facebook When telegram
Surf The Daily Hodl Mix
 
Featured Image: Shutterstock/Assasinator Czar
