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FTX wins $1.4bn auction for Voyager Digital assets

FTX wins $1.4bn auction for Voyager Digital assets

FTX has won the auction for the assets of bankrupt crypto lender Voyager Digital with a bid worth just over 1.42 billion.

The winning bid includes about $1.31 billion for the fair market value of Voyager’s digital assets and an additional consideration estimated as providing approximately $111 million of incremental value.

Voyager says that FTX US’s trading platform will enable customers to trade and store cryptocurrency after the conclusion of the company’s chapter 11 cases.

The deal will be presented to a US bankruptcy court next month and the sale of the assets is still dependent on a vote by creditors.

Voyager filed for Chapter 11 bankruptcy protection in July, listing assets of between $1 billion and $10 billion and liabilities in the same range.

The company suffered a blow when Three Arrows Capital went a week earlier, defaulting on a loan of 15,250 BTC and $350 million USDC. Its claims relating to Three Arrows will remain as part of the bankrupt estate.

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Written by Jason Flair

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