Cryptocurrency billionaire Sam Bankman-Fried made an offer to restructure Voyager Digital Ltd.’s assets that will allow customers of the bankrupt crypto brokerage firm to recover a portion of their investments, WSJ Pro Bankruptcy reported. FTX Trading Ltd., along with its U.S. subsidiary and Alameda Research, all majority-owned by Bankman-Fried, said the deal would provide Voyager customers an opportunity to get back at least some of their cryptoholdings, according to an FTX announcement on Friday. Under the proposal, Voyager customers would have the opportunity to start new accounts at FTX with an opening cash balance funded by distributions of an unspecified amount from the Voyager bankruptcy estate, according to the press release. Voyager customers can also immediately withdraw the cash from the new FTX accounts. The group offered $15 million in cash for Voyager customer information and an undisclosed amount for the assets that would be determined at the price two days before the closing, according to a Friday letter from the buyers to Voyager attached to the announcement. The prospective buyers didn’t disclose what portion of their assets participating customers would receive in the initial cash balance. FTX said Voyager would maintain the right to any recovery on a roughly $650 million loan to Three Arrows Capital Ltd., the crypto hedge fund in liquidation, and use the funds for additional payouts to customers.
