Crypto exchange FTX to acquires bankrupt crypto lender Voyager Digital in a bid valued at about $1.42 billion.
FTX’s bid consists of a fair market value of all Voyager cryptocurrency at a future date, estimated to be $1.31 billion at current market prices, and an additional consideration estimated to provide about $111 million in incremental value, according to a statement from Voyager. The company also stated that its claims against hedge fund Three Arrows Capital will be retained by the bankruptcy estate, which will distribute any recoveries to the estate’s creditors.
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Crypto exchange FTX to acquires bankrupt crypto lender Voyager Digital in a bid valued at about $1.42 billion.
FTX’s bid consists of a fair market value of all Voyager cryptocurrency at a future date, estimated to be $1.31 billion at current market prices, and an additional consideration estimated to provide about $111 million in incremental value, according to a statement from Voyager. The company also stated that its claims against hedge fund Three Arrows Capital will be retained by the bankruptcy estate, which will distribute any recoveries to the estate’s creditors.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
