Voyager secures court approval to refund $270M, says it received better offers than FTX bid

Struggling crypto lender Voyager Digital has been allowed to instrumentality its customer’s $270 cardinal deposited with Metropolitan Commercial Bank, The Wall Street Journal reported connected August 4.

According to the report, Judge Michael Wiles ruled that Voyager had presented a “sufficient basis” to let its customers entree to their funds astatine the bank.

The crypto lender had requested the court’s support to grant withdrawals from its For Benefit of Customers (FBO) relationship with Metropolitan bank. The slope had besides filed a question that supported Voyager Digital’s petition to grant these withdrawals.

Voyager has received amended buyout offers

Voyager revealed that it had received amended buyout offers than the 1 offered by FTX.

The steadfast claimed that arsenic galore arsenic 88 parties had shown involvement successful buying retired the institution and said it is successful progressive discussions with implicit 20 of them.

Additionally, Voyager said respective offers are “higher and amended than AlamedaFTX’s proposal.” Voyager counsel Joshua Sussberg reportedly told the court that the connection from FTX is the lowest the steadfast has received.

There is nary further accusation astir the different bids.

FTX had said its connection for Voyager was the champion for its customers — a presumption countered by the distressed company.

On the different hand, Voyager described FTX’s connection arsenic a low-ball bid that lone benefits AlamedaFTX and doesn’t connection afloat worth for customers.

The steadfast said it had sent a cease and desist missive to AlamedaFTX implicit the inaccurate nationalist statements it has been making astir the bid.

Customer concerns

The crypto lender mentioned that its customers had voiced their concerns done letters to the tribunal and societal media platforms.

According to the crypto lender, immoderate of the concerns person been astir whether Voyager committed fraud, currency withdrawals, and if determination are funny parties who privation to get the firm.

The station Voyager secures tribunal support to refund $270M, says it received amended offers than FTX bid appeared archetypal connected CryptoSlate.