Bankruptcy Court Approves FTX Purchase Agreement for Voyager Assets
Source: FTX Major crypto exchange FTX has secured the approval of a U.S. bankruptcy court to take over the assets of troubled crypto platform Voyager Digital. In a statement, the platform said the U.S. Bankruptcy Court for the Southern District of New York decided to approve Voyager Digital’s “entry into the asset purchase agreement between FTX US and Voyager.” “FTX US’s bid, valued at approximately $1.422 billion, is comprised of (i) the fair market value of all Voyager cryptocurrency at a to-be-determined future date prior to closing of the sale, which at current market prices as of September 26th is estimated to be $1.311 billion, plus (ii) additional consideration which is estimated to provide approximately $111 million of incremental value to creditors,” according to the statement. “Voyager’s claims against Three Arrows Capital will remain with the bankruptcy estate and any recover...