Tue, November 26

FTX Shows a Ray of Hope to the Voyager Digital Investors

Voyager Digital Co-Founder Faces CFTC Scrutiny Over Law Violations Exchange News
  • Voyager Digital Holdings was offered a purchase deal by FTX & partners.
  • Customers are provided with an opportunity to cash out from the FTX account.

Voyager Digital investors have been offered a helping hand by the FTX exchange as it is planning to accumulate the prior mentioned. The accumulation will be a joint venture between FTX, West Realm Shires Inc, and Alameda Ventures Ltd. The alpha move of the collaboration is the liquidity to the troubled customers.

FTX CEO Sam Bankman-Fried tweeted the above stating the customer’s opportunity to gain back the amount they have invested. Voyager reported chapter 11 bankruptcy post the $1.1 B loan it owes that includes a $654 M hedge fund from Three Arrow Capital (3AC).

Voyager suspended all its trading activity on July 1, and that continues to be the state. The firm has also been constantly updating its status in the court filing and the restructuring process to its investors.  

FTX Offer Particulars

The official letter from the FTX to Voyager on July 22 had details regarding the offer, which includes the taking over of loans and cashing out of Voyager customers. The buyer is ready to take up all the digital assets and the loans on them from the seller, except the 3ACs. 

The consumers who are willing to move out from Voyage and join the FTX can easily cash out in an account. Additionally, the trading fees will be cancelled for the first month, for those who wish to purchase rather than bailing out from a new account.

Any customer that does not wish to sign up with FTX would continue to retain all of their rights and claims in the bankruptcy proceedings, but would not receive early access to a distribution on their claim via FTX

Also, the offering is not a compulsion and will be completely voluntary. The FTX is now waiting for Voyager’s reply to the deal they have offered.

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