Voyager Digital (VYGVQ) – Voyager Digital Sets Date For Asset Auction: What You Need To Know

Crypto lender Voyager Digital VYGVQ filed a notice Tuesday with the U.S. Bankruptcy Court informing the court of the intention to liquidate its remaining assets via auction.

The auction, originally to have taken place on Aug. 29, is now scheduled for Sept. 13 at the office of Voyager’s investment banker, Moelis & Company. The announcement of the winning bidder is set for Sept. 29.

Read More: “I Have Four Children, That Money Was An Investment Into Their Futures”: Voyager Digital Bankruptcy Has Financially Destroyed Families, Creating Mistrust In Similar Platforms


Sam Bankman-Fried’s FTX submitted a purchase offer for all of Voyager’s assets and digital asset loans on July 22. Loans to Three Arrows Capital (3AC) were excluded from the bid. Shortly later, Fried’s offer was turned down. Binance was reportedly interested in acquiring the stressed assets as well.

Eighty-eight potentially interested parties contacted the company, of whom 46 signed non-disclosure agreements and 22 were engaged in a marketing process, according to a filing made by Voyager on Aug. 4.

Days after issuing a default notice and considering legal action against 3AC, which owed Voyager 350 million USD Coin USDC/USD and 15,250 Bitcoin BTC/USD, Voyager declared bankruptcy.

On July 1, Voyager stopped accepting trades, deposits, withdrawals and awards for loyalty. Customers that have cryptocurrencies in their accounts, according to the business, would receive “a combination of the crypto in their account(s), proceeds from the 3AC recovery, common shares in the newly reorganized Company, and Voyager tokens.”

Once the winning bidder is announced, users will receive further details about the claim process.

Disclosure: Benzinga CEO Jason Raznick is a member of the unsecured creditor committee in the Voyager Digital bankruptcy case.

Photo: Shutterstock

Image and article originally from Read the original article here.