Cryptocurrency lending company Voyager Digital has continued to draw international attention following its bankruptcy announcement in July of this year. Though the company’s digital assets remain caught up in legal limbo, and it owes hundreds of millions of dollars to companies including Three Arrows Capital, there was no shortage of offers to buy what remains of Voyager.
As of September 27, that struggle has come to an end with Sam Bankman-Fried’s Bitcoin exchange company FTX winning an auction for Voyager Digital’s assets with a bid of $1.4 billion. As the company announced in a press release on the purchase, “FTX US's bid maximizes value and minimizes the remaining duration of the Company's restructuring by providing a clear path forward for the Debtors to consummate a chapter 11 plan and return value to their customers and other creditors.”
What will come next for the crypto lender is still a matter of considerable speculation. According to Voyager’s leadership, existing account holders may be transferred to the U.S. subsidiary of FTX, and these users will once again be able to “trade and store cryptocurrency” following the resolution of their bankruptcy proceedings.