Crypto trade CrossTower is engaged on a revised provide for the belongings of bankrupt crypto lender Voyager Digital, a spokesperson informed Cointelegraph. Voyager introduced the reopening of its bidding course of after FTX US, the unique winner within the bid, filed for chapter in the US on Nov. 11.
“We’re engaged on a revised provide that we really feel will profit the Voyager clients and the broader Crypto neighborhood. CrossTower has at all times been, and can proceed to be, very community-focussed.”, the spokesperson stated, with out specifying an quantity.
In September, FTX US secured the successful bid for the belongings for roughly $1.4 billion, in response to Voyager. The belongings’ sale could be accomplished after a chapter 11 plan and an asset buy settlement accepted by the U.S. Chapter Court docket for the Southern District of New York.
Within the assertion disclosed on Nov. 11, Voyager stated that “the no-shop provisions of the Asset Buy Settlement between Voyager and FTX US are not binding.”, including that the bidding course of was reopened, and the bankrupt firm was in “lively discussions with various bidders.”
In line with the CrossTower spokesperson, the corporate is at the moment not conscious of different gamers collaborating within the bidding course of.
“We’re not conscious of every other curiosity in the meanwhile, however even when different gamers enter the ring, CrossTower’s precedence is to make sure one of the best curiosity of the Voyager clients and the broader crypto neighborhood.”
As beforehand reported by Cointelegraph, together with FTX, Binance and CrossTower submitted bids to accumulate Voyager’s belongings, every proposing their very own phrases and circumstances.
CrossTower proposed retaining the prevailing Voyager platform and app, which means that clients will not have to modify platforms as soon as the deal was closed. As a part of this plan, clients would additionally obtain their professional rata share of belongings. Moreover, CrossTower’s acquisition plan would see the trade share its income with Voyager clients for a number of years.
Though the brand new bidding phrases aren’t confirmed, CrossTower spokesperson urged {that a} related proposal could be underway:
“Voyager has an extremely loyal and engaged buyer base, and it had a wholesome enterprise. We consider that the Voyager basis could be constructed upon.”
Within the assertion in regards to the bidding, Voyager additionally confirmed its publicity to the FTX collapse, with a “stability of roughly $3 million at FTX, considerably comprised of locked LUNA2 and locked SRM that it was unable to withdraw as a result of they continue to be locked and topic to vesting schedules.”
Voyager additionally claimed that it didn’t switch any belongings to FTX in reference to the sale settlement. FTX US beforehand submitted a $5 million “good religion” deposit as a part of the public sale course of, which is held in escrow.
