Voyager Digital (VYGVQ) – Voyager Digital Sets Asset Auction Date: What You Need to Know

Crypto lender digital travel VYGVQ filed notice Tuesday with the US Bankruptcy Court notifying the court of the intention to liquidate its remaining assets through an auction.

The auction, which was originally scheduled to take place on August 29, is now scheduled for September 13 at Voyager, Moelis & Company’s investment banker’s office. The announcement of the successful bidder is scheduled for September 29.

Read more: ‘I have four children, this money was an investment in their future’: Voyager’s digital bankruptcy has financially destroyed families, creating distrust of similar platforms

Sam Bankman-Fried FTX submitted an offer to purchase all Voyager assets and digital asset loans on July 22. Ready to Capital of the Three Arrows (3AC) were excluded from the offer. Soon after, Fried’s offer was turned down. Binance would also have been interested in acquiring the troubled assets.

Eighty-eight potentially interested parties contacted the company, of which 46 signed nondisclosure agreements and 22 were engaged in a marketing process, according to a deposit made by Voyager August 4.

Days after issuing notice of default and considering legal action against 3AC, which owed Voyager $350 million USD Coin USD/USD and 15,250 Bitcoin BTC/USDVoyager has declared bankruptcy.

On July 1, Voyager stopped accepting transactions, deposits, withdrawals, and loyalty rewards. Customers who have cryptocurrencies in their accounts, according to the company, would receive “a combination of the crypto in their account(s), proceeds from the 3AC recovery, common stock of the newly reorganized company, and Voyager tokens”.

Once the winning bidder is announced, users will be provided with further details on the claim process.

Disclosure: Jason Raznick, CEO of Benzinga, is a member of the committee of unsecured creditors in Voyager Digital’s bankruptcy case.

Photo: Shutterstock

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