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Bids for bankrupt crypto lender Voyager Digital are in and the platform is set to have an asset auction on 13 September 2022, documents filed on Tuesday show.
Voyager is one of the many crypto companies, as headlined across crypto news, that suffered a fatal blow as a result of the crypto winter and broader market contagion, a scenario many industry experts noted would spell doom for projects built on “cheap money.”.
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Indeed, as we covered here, the demise of crypto hedge fund Three Arrows Capital was one of the biggest blows to the crypto lender.
Now a little over two months following its bankruptcy filing, the company is preparing for an auction of assets as major players within the industry bid to take over what’s left of the lender.
One of the bidders is major crypto exchange FTX, which was among the first companies to offer a bailout and publicly register a desire to buy Voyager’s assets. FTX CEO Sam Bankman-Fried has even warmed up to the tag of being the “JP Morgan of Crypto”. Read more.
According to Voyager’s counsel and as filed yesterday, the auction will start at 10 am ET on 13 September (Tuesday next week). Once the bidding is done, a hearing on the results will be held on 29 September.
Voyager filed for Chapter 11 Bankruptcy as part of its restructuring process on 5 July.
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Image and article originally from invezz.com. Read the original article here.