Bankrupt crypto lender Voyager Digital Ltd. agreed to consider higher offers than the $1.4 billion bid it accepted from FTX US, the digital-asset exchange founded by billionaire Sam Bankman-Fried, a decision that could increase payouts to customers who had their accounts frozen, Bloomberg News reported. Under an arrangement approved by Bankruptcy Judge Michael E. Wiles on Wednesday, the company can cancel its deal with FTX should it get a higher offer. The sale can’t close until Judge Wiles approves Voyager’s bankruptcy payout plan, which the Manhattan-based judge may consider in December. FTX won a two-week-long auction for Voyager under a deal tied to court approval of the creditor payment plan, lawyers said during a court hearing held by telephone. Wiles pressed Voyager to include a standard bankruptcy clause called a “fiduciary out,” which allows a company under court protection to consider higher offers until a sale is final. FTX is currently “the only viable alternative” for the company, Voyager bankruptcy attorney Christine Okike told Wiles. The company agreed to change how the fiduciary out is worded to ensure that a better offer can be considered. One losing bidder, crytpo exchange CrossTower, will continue to press its offer, which it believes is better than FTX’s bid, CrossTower’s lawyer John Ashmead told Wiles during the hearing.
