The popular crypto exchange FTX successfully won the auction of bankrupt crypto lending platform Voyager Digital.
Voyager Digital is a bankrupt crypto broker. In July of this year, Voyager filed for Chapter 11 bankruptcy. In mid of August, Voyager faced huge criticism from its creditors because of its appeal in court, where it requested to release $1.9 million for employees.
As per the announcement made by Voyager, FTX has won the auction for bankrupt lender Voyager Digital and its assets with a bid of around $1.4 billion. At present, the fair value of assets under Voyager is around $1.3 billion.
During the whole auction game, The Official Committee of Unsecured Creditors closely watched the whole activity step by step. This committee is representing the Creditors of Voyager & its customers and also supported the success of FTX winning the auction.
It is worth noting that FTX and Binance were top players in the Voyager auction bid and this auction was going on for the last two weeks.
UK’ FCA vs FTX
On 21 September, The Financial Conduct Authority (FCA), the crypto regulatory body in the UK, issued a public statement against the FTX exchange and suggested citizens remain away from this crypto exchange because this exchange targets the user of the UK but the exchange is not authorized with FCA.
The regulatory body clearly said that no people will get compensation if anything will happen wrong.
At present, the UK is a very strict region for crypto companies because FCA is not releasing crypto licenses easily. Only a particular number of companies are providing crypto services.