FTX Emerges As The Top Bidder In The Auction To Buy Voyager’s Assets

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FTX submitted the highest offer to purchase Voyager Digital’s assets by outbidding Wave Financial in an auction that began earlier this week.

After freezing withdrawals and declaring bankruptcy in July, crypto lending firm Voyager Digital revealed a roadmap to auction its assets in August. A spokesperson for Voyager earlier revealed that 88 parties were interested in purchasing Voyager’s assets.

FTX and Binance set their sights on acquiring Voyager’s assets and made offers in July that were rejected by Voyager. The bankrupt crypto lender stated Sam Bankman-Fried’s proposal was a “low ball” that was “highly misleading.”

Voyager’s final bid deadline, earlier scheduled for August 26, was delayed to September 6, with a court document stating that the auction began on September 13.

A source claimed that during the final round, FTX was up against Wave Financial, an asset management firm. FTX proposed a higher bid, but the source did not disclose the amount FTX agreed to pay. 

Other sources revealed that Binance’s attempts to purchase Voyager’s assets in the auction became complicated due to concerns about the transaction being rejected by US regulatory bodies. 

The hearing to approve the results of the auction is scheduled for September 29.

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Written by
Ayush Pande

FTX submitted the highest offer to purchase Voyager Digital’s assets by outbidding Wave Financial in an auction that began earlier this week.

After freezing withdrawals and declaring bankruptcy in July, crypto lending firm Voyager Digital revealed a roadmap to auction its assets in August. A spokesperson for Voyager earlier revealed that 88 parties were interested in purchasing Voyager’s assets.

FTX and Binance set their sights on acquiring Voyager’s assets and made offers in July that were rejected by Voyager. The bankrupt crypto lender stated Sam Bankman-Fried’s proposal was a “low ball” that was “highly misleading.”

Voyager’s final bid deadline, earlier scheduled for August 26, was delayed to September 6, with a court document stating that the auction began on September 13.

A source claimed that during the final round, FTX was up against Wave Financial, an asset management firm. FTX proposed a higher bid, but the source did not disclose the amount FTX agreed to pay. 

Other sources revealed that Binance’s attempts to purchase Voyager’s assets in the auction became complicated due to concerns about the transaction being rejected by US regulatory bodies. 

The hearing to approve the results of the auction is scheduled for September 29.

We’re glad you read to this point!

Every week, we publish an email newsletter highlighting all the juicy stories we covered in the crypto space, bringing all the major happenings to your doorstep.

So, if you want to have top stories delivered to your email inbox every week, subscribe to our newsletter!

Written by
Ayush Pande