August 25, 2022

Voyager Digital, a cryptocurrency lender, has received several purchases offers higher than FTX’s..

According to a Bloomberg story, crypto lender Voyager Digital has already received many bids to buy it that are more than the ones from the FTX exchange and its sister firm Alameda.

  • Voyager Digital received the other offers after Sam Bankman-Fried’s #FTX offered to buy the company for cash and provide early #liquidity on customers’ #bankruptcy claims last month. These clients would also be able to open new FTX accounts.
  • Last week, #Voyager rejected FTX’s offer, calling it a “low-ball bid disguised as a white knight rescue” that exclusively benefited FTX.
  • According to #Bloomberg, Voyager attorney Joshua Sussberg stated in court that FTX’s bid to purchase Voyager is the lowest thus far. He did not provide any information on the other #bids.
  • #Sussberg further claimed that the competing offers would allow buyers to recoup far more than 30 cents on the #dollar.
  • In a second-day hearing presentation, Voyager stated that 88 potentially interested parties had been approached throughout its restructuring process: 46 parties have signed non-disclosure agreements, and 22 are actively involved in its sales process. The final offer deadline is August 26, and the sale hearing is scheduled for September 7.
  • In the presentation, Voyager also stated that its advisors are in “active conversations” with over 20 possible interested parties, and the lender expects to emerge from #bankruptcy in the first quarter of next year.
  • Earlier, the Wall Street Journal reported that the lender had received consent from Judge Michael Wiles of the U.S. Bankruptcy Court in New York, overseeing the bankruptcy proceedings, to repay $270 million in client #funds.

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