FTX US has secured the winning bid for the assets of crypto brokerage firm Voyager Digital, to be approved by the United States Bankruptcy Court, with a bid valued at approximately $1.4 billion, according to Voyager.
Voyager said the bid was made up of the fair market value of its crypto holdings “at a to-be-determined date in the future” estimated to be around $1.3 billion along with $111 million of what it says is “incremental value,” but did not provide further details.
Little information was given regarding what will happen to Voyager customers still awaiting access to their crypto holdings, with Voyager stating additional information about crypto access “will be shared as it becomes available.”
Voyager only mentioned that the FTX US platform will enable customers to trade and store cryptocurrency after the conclusion of the company’s chapter 11 cases.
Voyager entered into a Chapter 11 bankruptcy on July 5, sometimes called a “reorganization” bankruptcy, it allows a firm to retain control of its assets and continue operating whilst it plans to restructure or sell the business.
