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Voyager Digital Turns Down Proposal from FTX
Summary: According to MarketWatch, a proposal was made on Friday by crypto exchange FTX and Alameda Ventures to acquire Voyager Digital, but the struggling exchange turned it down. The companies offered to buy all Voyager's loans and digital assets at fair market value and with "immediately available cash." Voyager's Digital claims in the recently bankrupt crypto ...
According to MarketWatch, a proposal was made on Friday by crypto exchange FTX and Alameda Ventures to acquire Voyager Digital, but the struggling exchange turned it down. The companies offered to buy all Voyager's loans and digital assets at fair market value and with "immediately available cash." Voyager's Digital claims in the recently bankrupt crypto hedge fund Three Arrows Capital (3AC) are not included in the proposal.
Sam Bankman-Fried's FTX and Alameda Ventures proposal also includes the possibility for Voyager's customers to create a new account on the FTX platform, where they can receive a cash balance equal to a part of their claims with Voyager Digital, which filed for bankruptcy earlier this month.
In a court filing on Sunday, Voyager's lawyers described the FTX and Alameda proposal as "a liquidation of cryptocurrency," saying that it advantages FTX.
Sam Bankman-Fried, the crypto billionaire and CEO of FTX, recently tweeted that their proposal would benefit users by allowing them to be repaid faster. Bankman-Fried argued that consumers would lose more optionality as the bankruptcy process continues.
Author: Garrett Meifert
Tags: Alameda Ventures,FTX,SAM BANKMAN-FRIED,Voyager,Voyager Digital
Link: Voyager Digital Turns Down Proposal from FTX [Copy]
