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Thursday, October 6, 2022

FTX Has A New Way Of Giving Voyager Digital Clients

FTX and Alameda Ventures have decided to offer the customers of Voyager Digital another chance to create a new account on the blockchain by opening up a cash balance that would be funded through an early distribution on a portion of their claims of bankruptcy. In a statement on Friday, the blockchain announced that they had a talk with Alameda Ventures who stated that they would love to purchase all the digital assets and digital asset loans of Voyager- with the exception of loans to Three Arrows Capital. 

FTX Has The Option To Save Crypto Clients 

A letter that was issued from Alameda Ventures and FTX went on to explain that the customers of Voyager Digital who did not desire to create an account on the blockchain would be able to retain their rights in the proceedings against bankruptcy- but will not be receiving any form of early reimbursement. Accepting this offer will definitely be of much help, as it would protect the clients of Voyager Digital from the deprecation of the crypto assets that they currently do not possess- as well as the reimbursement for their digital assets that would be based on the value, will start getting processed on the 5th of July. 

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After putting up an account on FTX, the clients of Voyager Digital will be able to continue trading their crypto or their cash immediately out of their accounts. The CEO and co-founder of the blockchain Sam Bankman-Fried stated that the goal of their proposal was to help in the establishment of another way that would help resolve an insolvent crypto business. Along with buying the digital assets of Voyager Digital and the digital asset loans at market value, the blockchain will also acquire all the customer information for a payment of around $15 million- while receiving trademarks and other intellectual property as well. 

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