Voyager Digital Auction Is Over - What Now?

Voyager Digital Auction Is Over – What Now?

Voyager Digital filed for Chapter 11 bankruptcy in July after its exposure to a toxic stock of Three Arrows Capital led to its eventual collapse. This week, rumble emerged from the Voyager Digital auction, as Cointelegraph broke the story on the afternoon of September 26 after a reputable source confirmed the parties involved. A few hours later, the winner was announced: crypto exchange FTX US. But not everyone is convinced that Voyager’s depositors will be taken care of.

This week’s Crypto Biz is dating the bidders participating in the Voyager Digital Auction. It also documents the resignation of a disgruntled crypto chief and major funding plans from a blockchain-focused hedge fund.

FTX US wins auction for Voyager Digital assets

Cointelegraph reported this week that crypto exchanges FTX, Binance and CrossTower are vying for the assets of embattled crypto lender Voyager Digital. A few hours later, it was confirmed that FTX US had secured the winning bid of approximately $1.3 billion. The acquisition means that existing Voyager users can access funds through FTX US once the Chapter 11 case of the crypto lender is over. Voyager is just one of the many struggling crypto companies that are collapsing during this year’s bear market. Her fate was connected with the catastrophic collapse of Three Arrows Capital, which failed to repay the lender 650 million dollars.

Voyage auction did not serve depositors’ interests, Wave Financial . representative claims

FTX US may have won the auction of Voyager’s assets, but the outcome did not serve the interests of depositors, according to a Wave Financial representative. In an exclusive interview with Cointelegraph, a representative of the Los Angeles-based asset management firm confirmed that Wave was also in the mix to acquire Voyager’s assets. They claim that Wave’s proposal was better because it sought to “restore value in VGX tokens through a new and improved tool, save $200 million in funds and reallocate assets back to existing Voyager customers.” It was done, but Wave certainly made a compelling show.

Pantera plans to raise $1.25 billion for second blockchain fund: Report

Crypto-focused hedge fund Pantera Capital remains very bullish on digital assets. According to CEO Dan Morehead, the company is “very optimistic for the next 10 or 20 years” and is ready to put its money where it is. The company revealed this week that it plans to raise a whopping $1.25 billion for its second blockchain fund. If all goes according to plan, the fund will achieve its goal by May 2023. If you are committed to Bitcoin (BTC) and digital assets like Moorhead, the next six to twelve months will definitely test your resolve.

Celsius Alex Mashinsky’s CEO resigns

The faster they rise, the more they fall. Celsius Network — once a darling of the central finance industry, with more than $20 billion in assets at its peak — filed for bankruptcy in July. Alex Mashinsky, the company’s CEO, officially relinquished his role on September 27. And while Mashinsky has tried to revive the company through restructuring, he claims that his presence was more of a “distraction” than anything else. “I regret that my continued role as CEO has become an increasing distraction, and I am deeply sorry for the difficult financial conditions faced by members of our community,” he said in a press release.

Before you go: What effect will the collapse of the British pound have on cryptocurrencies?

This week, the British pound fell to an all-time low against the US dollar. Cryptocurrency investors are puzzled as to why the British pound has sold so sharply. They are even more curious about what this could mean for Bitcoin and digital assets as a whole. In this week’s market report, Cointelegraph analysts explain the apparent drop in the British pound and how this could affect investor sentiment going forward. You can watch the full replay below.

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