FTX’s $1.4B bid on Voyager Digital assets: A gambit or a way out for users?
FTX has bid $1.4 billion for Voyager Digital’s assets, looking to provide users a way out if they move to its platform, but there are risks. In September, cryptocurrency exchange FTX US secured the winning bid for the assets of embattled crypto brokerage firm Voyager Digital with a bid of approximately $1.4 billion. The bid was made up of the fair market value of Voyager’s crypto holdings “at a to-be-determined date in the future.”According to Voyager, at current market prices, the fair value of its holdings was estimated around $1.3 billion, and the deal included an “additional....
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In response to FTX’s proposal to provide early liquidity to Voyager customers, the attorneys for insolvent cryptocurrency lender Voyager Digital called the proposal a “low-ball bid dressed up as a white knight rescue” that only benefited FTX. Voyager Lawyers Call FTX’s Offer A ” Low Ball Bid” In court documents filed late on Sunday, attorneys […]
Gambit.com is the name of an up and coming Bitcoin gaming website created by Jay Severson, one of the internet entrepreneurs who took Chess.com from a small business webpage to one of the most frequented online gaming websites (bigger than Zynga) in the world. Users that go to Gambit.com are able to play familiar games against each other in classic PvP internet arcade style; however, there is one featured twist that spices things up quite a bit: real-time betting. Users can choose to wager Bits, Bitcoin bits, or Points, virtual points that are nonredeemable for Bitcoin. Half of the site's....
FTX is proposing to buy out all Voyager Digital digital assets and digital asset loans, except loans to Three Arrows Capital, which would remain Voyager Digital’s problem. FTX and Alameda Ventures want to offer Voyager Digital customers a chance to start a new FTX account with an opening cash balance funded by an early distribution on a portion of their bankruptcy claims, FTX announced in a statement Friday. To accomplish this, Alameda Ventures said it would like to buy all Voyager digital assets and digital asset loans, with the exception of loans to Three Arrows Capital (3AC). A letter....
Three days ago, Bitcoin.com News reported on the publicly listed company Voyager Digital after the crypto firm announced that it was owed $655 million worth of digital assets. Now according to a press release from Voyager, the company has secured funds from Alameda Ventures in order to get more access to liquidity.
Voyager Borrows $500 Million from Alameda
Voyager Digital Holdings, Inc. has revealed a collaboration with Alameda Ventures as the venture company has provided Voyager with a line of credit. The funds are “intended to help Voyager meet customer liquidity needs....
Crypto lender Voyager Digital is the latest domino to fall in the tumultuous market for digital assets. Voyager Digital disclosed on Wednesday that it filed for bankruptcy on Tuesday with the U.S. Bankruptcy Court for the Southern District of New York. The bankruptcy petition comes a week after the company froze withdrawals, trading, and deposits as […]