Voyager, FTX reach agreement on $445M loan Voyager, FTX reach agreement on $445M loan
FTX's relationship with Voyager has been under intense scrutiny since both firms filed for bankruptcy last year.
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Updated: Feb. 23, 2023 at 11:59 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bankrupt crypto lender Voyager Digital agreed with FTX and its unsecured credits to hold the disputed $445 million loan payment pending a settlement or court order, according to a Feb. 22 court filing.
The court filing further said Voyager would continue to hold another $5 million deposit made by FTX in escrow. The bankrupt lender added:
“[The $5 million deposit] will not be used or distributed until ownership of that deposit is litigated in the New York Bankruptcy Court and decided by settlement or a final and unappealable order, including any appeals therefrom.”
FTX, Alameda, and Voyager have a complicated relationship following their respective bankruptcy.
In January, FTX’s sister company Alameda Research sued the crypto lender for $445.8 million. FTX’s lawyer argued that Voyager “fueled” Alameda’s alleged misuse of customer funds — “either knowingly or recklessly.”
Alameda also objected to Binance.US’s purchase of Voyager’s assets.
However, Voyager countered that Alameda tried to undermine and sabotage its restructuringFT efforts. The lender recently subpoenaed top Alameda and FTX executives over their botched acquisition deal.
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Voyager
Voyager Digital is a bankrupt cryptocurrency exchange company in the United States that was founded in 2018.
FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Alameda Research
Alameda Research was once a principal trading firm, operating as an arm of the failed crypto exchange, FTX.
