The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Court Kicks Off $1,422,000,000 Deal Between Bankrupt Crypto Lender Voyager and FTX US

by Mehron Rokhy
October 23, 2022
in Altcoins, Regulators, Trading

A US court is approving the first step of a deal that would see crypto exchange platform FTX purchase the assets of troubled digital asset lender Voyager for over $1.4 billion.

In a new company blog post, Voyager says that a court has approved its entry into a $1.42 billion agreement with FTX that would see the crypto exchange acquire its virtual assets.

FTX’s bid includes the fair market value of all of Voyager’s digital assets as of September 26th, with a combined worth $1.31 billion, as well as $111 million set aside to pay back creditors.

Voyager is now asking customers to vote on its “Plan,” which it says would maximize financial recovery to the crypto lender’s creditors.

“Voyager and its affiliated debtors believe that the sale to FTX US is in the best interest of all stakeholders and, ultimately, is the best possible – and only actionable – transaction available.

As such, Voyager and its affiliated debtors urge you to properly and timely submit your ballot, in advance of the November 29th deadline, with a vote to accept the plan.”

According to Voyager, only customers who successfully transition to FTX will be eligible to receive crypto assets supported by the exchange platform as compensation while those who choose not to will receive cash.

“Value may be returned to customers through a mix of in-kind crypto, USDC [USD Coin], and US dollars, depending on the nature of a customer’s claims, whether and when customers transition to FTX US, and the specific coins supported on the FTX US platform.

Only customers who transition to FTX US will be eligible to receive cryptocurrency as part of their plan distribution – customers who do not transition to FTX US will receive their distributions in cash from the Voyager bankruptcy estates.”

FTX, owned by billionaire Sam Bankman-Fried, beat out fellow crypto exchange platform Binance in a bidding war to purchase the bankrupt crypto lender earlier this month.

Just days ago, it was announced that financial regulators in the state of Texas will be investigating FTX for allegedly selling unregistered securities.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Assasinator Czar

Submit a Press Release

Industry Announcements

  • Open-Source Blockchain D-Ecosystem Raises $6 Million Ahead of IDO on March 29, 2023
    March 27, 2023
  • Bitget Becomes the First Centralized Exchange To Offer Financial Transparency Through Space and Time
    March 27, 2023
  • OKX Launches Turkish Lira Deposits and Withdrawals
    March 27, 2023
  • Cardano’s Top NFT Marketplace JPG.Store Announces Plans To Empower More Artists Globally
    March 27, 2023
  • Narwhal Finance Secures $1 Million in Seed Funding Led by Animoca Ventures
    March 24, 2023
  • Sports Prediction App Pooky Launches Full Version of Its Play-and-Earn Game
    March 23, 2023
  • StormGain Launches StormGain DEX for User-Friendly Decentralized Crypto Trading
    March 23, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,316.59
$28,316.59
2%
Ethereum
$1,802.53
$1,802.53
3.3%
Cardano
$0.380868
$0.380868
13.46%
XRP
$0.460298
$0.460298
19.52%
Dogecoin
$0.076029
$0.076029
5.81%

Spotlight

  • Crypto Trader Maps Path Forward for Aptos and Chainlink, Predicts Altcoins Will Fly Once Bitcoin Cools Off
    March 25, 2023
  • Owner of Major US Stock Exchange To Launch Crypto Custody Services by June: Report
    March 25, 2023
  • Crypto Whales Pounce on Ethereum Scaling Altcoin, Accumulating 13,310,000 Arbitrum (ARB) After Polygon Rival’s Airdrop
    March 25, 2023
  • Polkadot, Kusama and Cardano Leading Crypto Space in Terms of ‘Notable GitHub Activity’: Santiment
    March 25, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl