FTX Offer Leads Voyager Digital Crypto Lender's Asset Buyback Auction

Article Reading Time:
2 minutes.

The Bankruptcy Court for the Southern District of New York held an auction for the sale of assets of the bankrupt company Voyager Digital. The winner will be announced at the end of September.

About 80 companies took part in the closedauction for the sale of assets of crypto lender Voyager Digital in the New York office of the investment bank Moelis & Company. At the final stage, a battle took place between the FTX exchange of Sam Bankman-Fried and the investment company Wave Financial of David Siemer.

Back in July, Sam Bankman-Fried made
Voyager's direct acquisition offercompanies. However, the Voyager team vehemently rejected the proposal, saying it was "a cheap shot dressed in white knight armor." According to representatives of the Voyager team, Bankman-Fried pursues only selfish goals, he does not care about the fate of his clients, and in fact he acts as a liquidator.

Presence of Wave Financial before the start of tradingwas not advertised among the auction participants. The exact amount FTX agreed to pay for Voyager was not disclosed. The media has information that FTX’s offer turned out to be higher than Wave’s.

In addition to the above companies, to participate inThe world's largest cryptocurrency exchange, Binance, was announced at the auction for the sale of Voyager Digital assets. The media claim that it could seriously compete with all participants in the auction. 

At the final stage of submitting competitive proposals, it became known that the Committee on Foreign Investment in the United States (CFIUS) could prevent
Binance's participation in the auction.The basis was a decree of the US President prohibiting Chinese investors from participating in purchase and sale transactions of American companies that have access to confidential data of citizens of the country.