Voyager Digital Claims To Have Received Better Offer Than FTX

Twitter icon  •  Published 1週間前  •  Nikolas Sargeant

Voyager talks down FTX’s offer, claiming it has received offers from 20 potential buyers, all of which are better than the high-profile bid received from Sam Bankman-Fried’s AlamedaFTX.

Voyager talks down FTX’s offer, claiming it has received offers from 20 potential buyers, all of which are better than the high-profile bid received from Sam Bankman-Fried’s AlamedaFTX.

What Was Said?

On the second-day hearing presentation on Thursday, Voyager Digital Holdings Inc. stated that it has been in contact with a staggering 88 potential suitors. Voyager went on to say it’s in “active discussions” with 20 prospective buyers, though nothing no single buyer has been established yet.  

Towards the end of July, Sam Bankman-Fried and Alameda offered to buy up Voyager’s assets and loans, apart from those relating to the now-bankrupt Three Arrows Capital. 

Voyager responded to FTX’s offer fervently, quickly rejecting the offer and claiming that a deal wouldn’t be possible with such “a low ball bid”. On top of that, if the company accepts an offer as low as that, it could “create chaos” in the firm’s hectic bankruptcy proceedings. A higher offer is the only way they would begin to open discussions regarding a potential takeover. 

Voyager went on to say that FTX was trying to take advantage of their situation by making “misleading or outright false” claims related to its situation, including that it would “write off” its own $75 million loan to increase customer recoveries. 

FTX went public with these claims in a press release published on July 22, which detailed plans to offer early liquidity to Voyager customers. Despite a positive relationship in the past, Voyager was very keen to squash any speculation about the deal, stating “Voyager’s process will not be obstructed by anyone, including Alameda/FTX.”

Troubled Times For Voyager

While Voyager looks for a suitor, they have received a notice from a New York court to hand $270 million back to customers. As reported by the Wall Street Journal, Judge Michael Wiles of the US Bankruptcy Court agreed with the firm’s contention that customers be given funds held in the Metropolitan Commerical Bank, where $270 million was held on behalf of of the crypto firm. 

A couple of weeks ago, Judge Wiles reluctantly allowed Voyager to settle a $76,000 balance on its company credit cards. The company claims the cards are essential to its business operations, though Judge Wiles disputed this, stating, “I’m concerned that we’re still at a point in the case where I’m only supposed to do things to prevent immediate and irreparable harm,” he went on to say “Without you having even made an effort to secure new cards, all I have are vague and generalized descriptions of why you need credit cards generally, not why you need these particular cards or need to pay these amounts.”

Author

Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.

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