Crypto Exchange FTX Wins the Auction to Buy Voyager's Assets

by in Cryptocurrency News

FTX Voyager bid

FTX US won the bid to acquire the bankrupt Voyager’s digital assets. An announcement by the crypto lending company says the auction included lots of participants and took 2 weeks of multiple rounds. As a result, FTX US offered the highest and the best bid.

Related: Crypto Company Voyager Asks Judge to Honor Withdrawals

FTX US's bid was valued at around $1.422 bln. Voyager filed for chapter 11 bankruptcy this July to restructure its business voluntarily.

The company considered both a potential sale and a standalone reorganization. Voyager says along with bids and reorganization alternatives, the firm held an auction and based on the results determined that selling the assets to FTX is the best way for Voyager stakeholders.

The purchase document will be presented for approval to the court on September 28.