Voyager Digital said yesterday that crypto exchange FTX, whose bailout proposal the bankrupt lender had rejected earlier this year, has won its assets in a $1.42-billion bid at an auction, Reuters reported. The FTX bid comprises a fair market value of all Voyager cryptocurrency, at a to-be-determined date, which is pegged at about $1.31 billion at current market prices and an additional $111 million in incremental value, Voyager said in a statement. The company added that its claims against hedge fund Three Arrows Capital will remain with the bankruptcy estate, which will distribute any available recovery on such claims to the estate's creditors. Voyager issued a notice of default to the Singapore-based hedge fund in June, for its failure to make required payments on a loan of 15,250 bitcoin.The company in July spurned a proposal from FTX, founded by billionaire Sam Bankman-Fried, as a "low-ball bid dressed up as a white knight rescue" and alleged the plan would disrupt its bankruptcy process.
