FTX US: Court begins $1.4 million settlement between collapsed crypto lender Voyager and FTX US
A US court is approving the first step of a deal in which crypto exchange platform FTX will buy troubled digital asset lender Voyager's assets for more than 1.4 percent. billion dollars.
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In a new company blog post, Voyager said a court has approved it to enter a $1.42 billion deal with FTX that will see the crypto exchange acquire assets. your virtual property.
FTX's offer includes the fair market value of all Voyager digital assets as of September 26, totaling $1.31 billion, as well as $111 million set aside to pay creditors.
Voyager is now asking customers to vote on its "Plan," which it says will maximize financial recovery from crypto lenders' creditors.
“Voyager and its related debtors believe that the sale to FTX US is in the best interest of all involved and ultimately the best possible - and only actionable transaction. - availability.
Therefore, Voyager and its associated debtors urge you to properly and promptly submit your ballot, by the November 29 deadline, with one vote to accept the plan. "
According to Voyager, only customers who successfully convert to FTX are eligible to receive exchange-backed crypto assets as compensation, while those who choose not to receive it will receive cash.
“Value may be returned to the customer through a combination of physical cryptocurrencies, USDC [USD Coin], and US dollars, depending on the nature of the customer’s request, if and when the customer transfers exchange to FTX US and specific currencies supported on the FTX US Platform.
Only customers converting to FTX US are eligible to receive crypto as part of their distribution plan; customers who do not convert to FTX US will receive their distribution in cash from Voyager's bankrupt states. "
FTX, owned by billionaire Sam Bankman-Fried, defeated crypto exchange Binance in a bidding war to acquire the bankrupt crypto lender earlier this month.
Just a few days ago, it was announced that financial regulators in the state of Texas would be investigating FTX for allegedly selling unregistered securities.
Oct 24, 2022