Voyager (VGX) shares are purchased by cryptocurrency exchange FTX, which may benefit victims of the cryptocurrency.
Voyager Digital, the bankrupt and pending lending platform, had reached an agreement with FTX. According to the documents in the court, the agreement with FTX US could benefit the victims of the crypto platform. Under the interim agreement, victims have access to get 72 percent of their account value back.
Courtesy of Voyager
US bankruptcy judge Michael Wiles talked about the developments in the case during the court hearing. He pointed out that this temporary sale will not be completed until approval from Voyager creditors. In addition, Wiles stated that he approved the bankruptcy payment plan at the hearing.
Referring to the agreement between Voyager and FTX, Wiles stated that if this agreement is broken, the project will not survive. Also, the Crypto lending platform will be allowed to cancel the tentative agreement with FTX once the better offer is made in favor of the creditors. This right, which was approved by the court, was considered as a safe exit.
The plan set by FTX will meet all priority requests. It will also allow other victims to get back 72 percent of their assets in their frozen accounts.
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