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With a bid of approximately $1.4 billion, the US branch of cryptocurrency exchange FTX has won the bidding war for the assets of bankrupt Voyager Digital. FTX was reportedly bidding against digital-asset investment firm, Wave Financial and Binance.
In a press release on Monday, Voyager said in a press release that FTX winning offer represented the fair market value of its crypto holdings “at a to-be-determined date in the future” estimated to be roughly $1.3 billion along with $111 million of what it calls “incremental value.”
Further details were not provided, and little information was shared on what existing Voyager customers can expect and when they can get access to their crypto holdings.
Noting that more information “will be shared as it becomes available,” Voyager said that FTX US “will enable customers to trade and store cryptocurrency after the conclusion of the company’s chapter 11 cases.”