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Seeking Alpha 2022-09-30 18:58:32

FTX buys crypto lender Voyager Digital assets for $51M - report

After cryptocurrency exchange FTX won a $1.4B bid for beleaguered crypto lender Voyager Digital (OTCPK:VYGVQ) earlier this week, the cash paid to buy the firm itself stood at just $51M, CNBC reported Friday, citing court filings. Recall the FTX's acquisition focused mainly on Voyager's (OTCPK:VYGVQ) crypto positions, valued at $1.31B at the time, which will be distributed to creditors on a pro rata basis, the filings showed, as reported by CNBC. On July 5, Voyager entered into Chapter 11 bankruptcy. FTX's consideration for Voyager's (OTCPK:VYGVQ) non-crypto assets was said to be around $111M, the filings said. Of that figure, $51M was for Voyager's (OTCPK:VYGVQ) assets, intellectual property and user base, while the remaining $60M consisted of earnouts and incentives. In the beginning of September, Voyager Digital to liquidate assets via auction.

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