FTX makes the highest bid for Voyager Digital

At the recent auction of the assets of the bankrupt cryptocurrency lender Voyager Digital, FTX made the most favourable offer. The value of the potential deal was not disclosed, CoinDesk reports, citing its own sources.

In the final stage, Wave Financial also vied for the assets of the troubled broker, but FTX’s bid proved higher. Meanwhile, according to an informed source, more favourable offers may emerge in the coming days.

In late August, media named FTX and Binance the leading bidders for the purchase of the assets of the bankrupt crypto broker. Previously, Wave’s participation among bidders had not been reported.

The acquisition of Voyager will not suspend the bankruptcy proceedings. However, the deal would allow the broker to maximise the amount available for creditors’ payouts.

Earlier, on 5 July, Voyager Digital filed for bankruptcy. The company put total liabilities in a range from $1bn to $10bn.

The broker is one of the creditors of the hedge fund Three Arrows Capital (3AC). The latter failed to repay debts of 15,250 BTC and 350m USDC, hence in June Voyager Digital sent it a default notice.

Alameda Research, linked to FTX’s CEO, was the second-largest Voyager borrower after 3AC, at $377 million.

Follow ForkLog’s Bitcoin news in our Telegram — news on crypto, rates and analysis.