FTX Plans to Offer Early Liquidity to Bankrupt Voyager Digital’s Customers

FTX will provide early liquidity to customers of the bankrupt cryptocurrency lender Voyager Digital. After Voyager’s Chapter 11 bankruptcy filing two weeks ago, the combined offer was made. FTX CEO Sam Bankman-Fried’s company Alameda Ventures lent Voyager $200 million in cash/USDC and 15,000 bitcoins. According to a press release issued by FTX on Friday, the cryptocurrency exchange is collaborating with Alameda Ventures and West Realm Shires. This entity owns FTX.US and Voyager to let Voyager users open new accounts on FTX. happy to do what we can to get liquidity to Voyager's customers: https://t.co/zDtGMfGq64 https://t.co/MdoIfU229B — SBF (@SBF_FTX) July 22, 2022 Opening Cash Balance for Voyager Customers Customers who accept the offer from Voyager will get an opening cash amount supported by an early distribution on some of their bankruptcy claims, according to FTX. They could either take the money out right away or utilize it to buy digital assets on FTX. Customers of Voyager won’t be obliged to take part in the program. “The objective of our collaborative proposal is to provide a better approach to settle an insolvent cryptocurrency business – a manner that allows consumers to access early liquidity and reclaim a portion of their assets without requiring them to speculate on bankruptcy outcomes and accept one-sided risks,” Bankman-Fried stated in the news release. FTX Won’t Purchase Voyager’s Loans Additionally, FTX state...