FTX wins $1.4bn auction for Voyager Digital assets

The profitable bid consists of about $1.31 billion for the honest market worth of Voyager’s digital property and an extra consideration estimated as offering roughly $111 million of incremental worth.

Voyager says that FTX US’s buying and selling platform will allow clients to commerce and retailer cryptocurrency after the conclusion of the corporate’s chapter 11 instances.

The deal might be offered to a US chapter courtroom subsequent month and the sale of the property remains to be depending on a vote by collectors.

Voyager filed for Chapter 11 chapter safety in July, itemizing property of between $1 billion and $10 billion and liabilities in the identical vary.

The corporate suffered a blow when Three Arrows Capital went every week earlier, defaulting on a mortgage of 15,250 BTC and $350 million USDC. Its claims referring to Three Arrows will stay as a part of the bankrupt property.