FTX Offers A Way To Give Voyager Digital Customers Back Some Of Their Digital Assets Earlier
FTX offers to acquire all digital assets from Voyager Digital and loans of digital assets, except loans to Three Arrows Capital , which would remain Voyager Digital's problem.
New
FTX and Alameda Ventures want to offer Voyager Digital customers the ability to open a new FTX account with an opening cash balance funded by an early distribution on a portion of their bankruptcy filings, FTX announced in a statement Friday. To do this, Alameda Ventures said it wanted to buy all of Voyager's digital assets and digital asset loans, except loans to Three Arrows Capital (3AC).
A letter from a legal representative of FTX and Alameda Ventures explained that Voyager Digital customers who did not elect to create an FTX account would retain their rights in the bankruptcy proceedings, but would not receive early repayment. Accepting the offer would protect Voyager Digital customers from depreciating crypto assets they currently do not have access to, as redemption of their digital assets will be based on their value as of July 5.
After creating an FX account, Voyager Digital customers will be able to continue trading their crypto or withdraw their accounts immediately. FTX Co-Founder and CEO Sam Bankman-Fried said:
“The goal of our joint proposal is to help establish a better way to resolve an insolvent crypto business – one that allows customers to quickly get cash and recover some of their assets without them. compel speculation on the outcome of the bankruptcy and take unilateral risks."
In addition to purchasing Voyager Digital's digital assets and digital asset loans at market value, FTX would acquire all customer information for a payment of $15 million and would also receive trademarks and other intellectual properties. FTX would also cancel its $75 million loan claim against Voyager Digital.
FTX offers to acquire all digital assets from Voyager Digital and loans of digital assets, except loans to Three Arrows Capital , which would remain Voyager Digital's problem.
New
FTX and Alameda Ventures want to offer Voyager Digital customers the ability to open a new FTX account with an opening cash balance funded by an early distribution on a portion of their bankruptcy filings, FTX announced in a statement Friday. To do this, Alameda Ventures said it wanted to buy all of Voyager's digital assets and digital asset loans, except loans to Three Arrows Capital (3AC).
A letter from a legal representative of FTX and Alameda Ventures explained that Voyager Digital customers who did not elect to create an FTX account would retain their rights in the bankruptcy proceedings, but would not receive early repayment. Accepting the offer would protect Voyager Digital customers from depreciating crypto assets they currently do not have access to, as redemption of their digital assets will be based on their value as of July 5.
After creating an FX account, Voyager Digital customers will be able to continue trading their crypto or withdraw their accounts immediately. FTX Co-Founder and CEO Sam Bankman-Fried said:
“The goal of our joint proposal is to help establish a better way to resolve an insolvent crypto business – one that allows customers to quickly get cash and recover some of their assets without them. compel speculation on the outcome of the bankruptcy and take unilateral risks."
In addition to purchasing Voyager Digital's digital assets and digital asset loans at market value, FTX would acquire all customer information for a payment of $15 million and would also receive trademarks and other intellectual properties. FTX would also cancel its $75 million loan claim against Voyager Digital.
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