Voyager Digital Sets Date for Bankruptcy Auction of Remaining Assets

Voyager Digital Sets Date for Bankruptcy Auction of Remaining Assets

Voyager Digital, a bankrupt centralized crypto lender, has announced plans to auction its remaining assets. The auction is scheduled to take place on September 13 at the Manhattan office of Moelis & Company, Voyager's investment banker. A hearing to approve the results will follow on September 29.

Background on the Auction

The auction was initially set for August 29 but was postponed. For the auction to proceed, multiple parties must express interest in acquiring Voyager's assets.

In July, FTX submitted an offer to purchase all of Voyager's assets and digital asset loans, excluding loans to Three Arrows Capital (3AC). However, Voyager deemed the offer "lowball" and rejected it shortly after.

Next Steps

With bids already submitted, the auction will determine the fate of Voyager's remaining assets. The outcome will be finalized during the September 29 hearing. This process marks a significant step in Voyager's bankruptcy proceedings as it seeks to liquidate its assets and settle obligations.

The auction highlights the ongoing challenges in the crypto lending space, particularly for centralized platforms facing financial distress. Investors and stakeholders will closely monitor the proceedings to understand the implications for Voyager's creditors and the broader crypto market.