Voyager Reopens Bidding Process Following FTX Bankruptcy

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Stephen Ehrlich; Photo Source: Fortune
According to Voyager's press release, “It is important to note that Voyager did not transfer any assets to FTX US in connection with the previously proposed transaction...”

Bankrupt crypto lender, Voyager Digital, has called off its buyout deal with FTX following the exchange’s bankruptcy woes. The no-shop provisions of the Asset Purchase Agreement between the two companies will no longer hold. 

In September, FTX won the bid to buy Voyager following the lender’s bankruptcy, and the bid was valued at $1.4 billion. 

However, with recent unpleasant events going on in the exchange, Voyager is calling off the agreement. The firm made it known on Twitter that it has reopened the bidding process for its assets.

Voyager also disclosed that it had about $3 million locked up in FTX and comprised mainly of locked LUNA2 and Serum (SRM). They could not withdraw the tokens because they remained locked and were subject to vesting schedules. However, the firm stated it had no outstanding loans with borrowers.



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Voyager said in its press release

“It is important to note that Voyager did not transfer any assets to FTX US in connection with the previously proposed transaction. FTX US previously submitted a $5 million "good faith" deposit as part of the auction process, which is held in escrow.”

Furthermore, Voyager Digital announced they were creating strategic options and are in active discussions with other bidders. However, they did not mention any name or company. 

The firm also made it clear that it was moving with due care and intentional speed to identify an alternative plan which aligns with its core objective of maximizing value returned to customers and its creditors. 

Written by
Chiagoziem Bede Ikwueze
According to Voyager's press release, “It is important to note that Voyager did not transfer any assets to FTX US in connection with the previously proposed transaction...”

Bankrupt crypto lender, Voyager Digital, has called off its buyout deal with FTX following the exchange’s bankruptcy woes. The no-shop provisions of the Asset Purchase Agreement between the two companies will no longer hold. 

In September, FTX won the bid to buy Voyager following the lender’s bankruptcy, and the bid was valued at $1.4 billion. 

However, with recent unpleasant events going on in the exchange, Voyager is calling off the agreement. The firm made it known on Twitter that it has reopened the bidding process for its assets.

Voyager also disclosed that it had about $3 million locked up in FTX and comprised mainly of locked LUNA2 and Serum (SRM). They could not withdraw the tokens because they remained locked and were subject to vesting schedules. However, the firm stated it had no outstanding loans with borrowers.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Voyager said in its press release

“It is important to note that Voyager did not transfer any assets to FTX US in connection with the previously proposed transaction. FTX US previously submitted a $5 million "good faith" deposit as part of the auction process, which is held in escrow.”

Furthermore, Voyager Digital announced they were creating strategic options and are in active discussions with other bidders. However, they did not mention any name or company. 

The firm also made it clear that it was moving with due care and intentional speed to identify an alternative plan which aligns with its core objective of maximizing value returned to customers and its creditors. 

Written by
Chiagoziem Bede Ikwueze