FTX wins Voyager Digital auction bid

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Updated September 27, 2022 | Published September 27, 2022

2 mins read

FTX has won insolvent crypto lender Voyager’s auction bid for $1.4bn.

Bankrupt Voyager Digital has announced that crypto exchange FTX through its subsidiary FTX US has won the bid for its assets.

The two-week auction process of Voyager’s cryptocurrencies valued at $1.311bn came to an end and sold for $1.422bn comprising an additional consideration worth around $111m.

The auction comes after three months of bankruptcy proceedings since the company filed for Chapter 11 bankruptcy on July 5.

“FTX US's bid maximizes value and minimizes the remaining duration of the Company's restructuring by providing a clear path forward for the Debtors to consummate a Chapter 11 plan and return value to their customers and other creditors”, according to a statement by Voyager.

On Wednesday, October 19, the transaction agreement for FTX’s bid will be presented for approval to the US Bankruptcy Court for the Southern District of New York.

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Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.
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