Assets Of Bankrupt Voyager Digital Purchased By FTX.
The assets of bankrupt Voyager Digital were purchased by exchange giant FTX, according to a recent press release issued by Voyager. Wave Financial, a digital-asset investment firm, was competing with FTX for the acquisition.
Voyager Digital is a crypto lender which declared bankruptcy back in July. Many had scrutinized Voyager&39s business practices, specifically how the Canadian-listed company stated in marketing materials that investors deposits were insured by the FDIC (Federal Deposit Insurance Corporation).
Although FDIC insurance would typically cover up to $250,000 in bank-held cash deposits, it would however not cover cash that was converted to stablecoins. Voyagers loan book reportedly accounted for nearly half of its overall assets, with nearly 60% of that loan book made up of loans to Three Arrows Capital (3AC), which also filed for Chapter 15 bankruptcy in July.
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