The crypto exchange bid a total of $1.42 billion for the bankrupt lender's assets — in a significant development for customers who remain frozen out of their funds 😶
The crypto exchange bid a total of $1.42 billion for the bankrupt lender's assets.
Voyager's $650 million claim against Three Arrows Capital is excluded from this deal, and work is continuing to recover these funds after the hedge fund defaulted on a loan. Customers will be able to trade and store cryptocurrency on FTX once the Chapter 11 case has concluded, the statement added. This sparked a fierce response from SBF on Twitter, who argued that the lack of a takeover deal would leave customers waiting years for their crypto back… and even then, they'd only get back pennies on the dollar. At the time, he wrote:
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FTX, Binance and CrossTower are competing to buy Voyager Digital assets: SourceSources say that FTX and Binance have offered similar deals, whereas CrossTower proposes keeping the Voyager Digital platform and app.
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