FTX US Wins Bid to Buy Assets of Bankrupt Crypto Lender Voyager Digital

Digital exchange giant FTX US has won the the bidding war against digital-asset investment firm Wave Financial to buy the assets of bankrupt Voyager Digital, according to a statement from Voyager on Monday.

The deal is valued at about $1.422 billion, comprised of "additional consideration" worth about $111 million and the fair market value of all the cryptocurrency at the bankrupt platform, which at current prices is about $1.311 billion.

Voyager's clients will be able to transfer their crypto assets to the FTX US platform after the completion of the bankruptcy process, Voyager said.

The purchase agreement between the crypto lender and FTX US will be presented for approval in court on October 19, 2022 and the objection deadline to the transaction is October 12, 2022 at 4:00 pm.

FTX US is in the process of raising $1 billion in a funding round which has not closed yet or been made public, according to people familiar with the matter.