FTX US wins auction for Voyager Digital’s crypto assets

FTX US wins auction for Voyager Digital’s crypto assets

Major crypto exchange FTX US has successfully auctioned off the remaining assets of insolvent crypto savings platform Voyager Digital. The highest bid, worth almost 1.4 billion US dollars, now has to be approved by the competent bankruptcy court.

As Voyager explains in the accompanying announcement, the bid measures the fair value of the remaining crypto assets “at a date to be determined.” The purchase price consists on the one hand of the estimated asset value of 1.3 billion US dollars and a possible asset increase of 111 million US dollars.

However, the notification does not indicate when and how damaged Voyager users will be able to access their invested crypto funds again. Voyager only puts this off with the addition that the relevant information will be communicated as soon as there is clarity.

After all, it is already clear that FTX US will “enable Voyager users to trade and store cryptocurrencies once the bankruptcy proceedings have been completed”.

Cointelegraph has reached out to FTX and Voyager Digital for comment, but has not received any response as of press time.

The transfer of the acquired crypto assets is also to be completed after the end of the bankruptcy proceedings, but before that the approval of the responsible bankruptcy court in New York is required, which has to decide by October 19th.

As Cointelegraph reported, along with FTX, crypto firms Binance and CrossTower had also placed bids to buy the Voyager fortune.

According to an inside source, Voyager customers should be able to automatically take their relative share of the acquired assets with them and then access them through the FTX platform. A confirmation to that effect is still pending.

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