FTX In Lead To Purchase The Auctioned Assets Of Voyager Digital: Source

Ethereum World News
Ethereum World News September 16, 2022
Updated 2022/09/16 at 8:50 AM
3 Min Read
  • A report by Coindesk citing anonymous sources reveals that FTX might be in the lead to purchase the auctioned assets of Voyager Digital
  • The crypto lender platform had earlier rejected the FTXs deal citing it as a low ball offer

A report published by Coindesk citing anonymous sources reveals that crypto exchange FTX may purchase auctioned assets of the embattled crypto platform Voyager Digital.

FTX In The Lead? 

Crypto exchange FTX seems to have renewed its interest in Voyager Digital and might be pursuing the deal once again. A report published by Coindesk citing anonymous sources states that the exchange might be the frontrunner in acquiring the auctioned assets of troubled crypto lender platform Voyager Digital.

It was reported earlier that FTX had proposed a deal to purchase the assets of Voyager digital, however, the firm had rejected FTXs proposal by referring to it as a ” low-ball bid dressed up as a white knight rescue.”

Citing a person familiar with the matter, Coindesk’s report further adds that FTX and Wave Financial, a digital asset investment firm, were two strong contenders in the league to purchase the assets of Voyager Digital. However, an official confirmation is yet to be announced by the parties involved.

As part of its restructuring process, the assets of Voyager Digital were scheduled to undergo an auction process which was held on September 13. The report further states how FTX’s bid was higher than Wave Financial’s.

Voyager Digital earlier joined the list of several battered crypto lending platforms that succumbed to the onslaught of the bearish crypto winter phase. The platform halted its operations, notably deposits and withdrawals back in May, citing extreme market conditions.

The platform since then has undergone several juridical procedures to restructure its finances. Voyager had also hired restructuring lawyers to pursue the division of assets fairly and had recently conducted an auction to sell its assets off to compensate its creditors.

It is to be noted that Voyager had earlier rejected the deal offered by FTX adding that the exchange’s buyout offer was the “lowest” among all other purchase deals that the platform had earlier received. Voyager further revealed how it had received credible offers from 88 interested parties. The platform is yet to officially announce the details of the auction and the winning bid offer.

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