Voyager Says FTX’s Buyout Offer Was Misleading “Low-Ball Bid,” SBF Fires Back
Key Takeaways
- Voyager’s bankruptcy lawyers have responded to FTX’s buyout proposal to purchase the exchange’s assets and give customers instant liquidity by describing the offer as harmful and highly misleading.
- Sam-Bankman Fried responded by saying that the lawyers are only against the liquidation proposal because they want to drain Voyager’s remaining funds by charging fees.
- Voyager filed for Chapter 11 bankruptcy on July 6 after the infamous crypto hedge fund Three Arrows Capital hurled the exchange into an insolvency crisis by defaulting on a $665 million loan.
