Encrypted crypto broker Voyager Digital sets date to auction assets
Bankrupt crypto broker Voyager Digital announces it will auction off the rest of its assets on September 13.
The auction is part of Voyager’s restructuring plan as the troubled company undergoes bankruptcy proceedings.
Court documents show that bidding will take place at the New York office of Voyager’s investment banker, Moelis & Company.
A presentation shown during the company’s bankruptcy proceedings on August 4 claims that several companies including crypto billionaire Sam Bankman-Fried’s crypto hedge fund AlamedaFTX have already expressed interest in buying Voyager’s assets.
“Voyagers, we would like to inform you that several bids were submitted as part of the company’s restructuring process. As a result, an auction is scheduled for September 13.”
The company says it will share more details about the winning bidder once the auction is complete. The court hearing which will approve the result of the auction is set for 29 September.
“Once the auction is complete, we will share more information about the winning bidder and what that means for you as a customer.
In the meantime, read the email you received from Voyager Digital Restructuring last week. It contains important information about the claims process.”
Despite its insolvency, Voyager is considering paying nearly $2 million in employee bonuses as part of its proposed Key Employee Retention Plan (KERP). Lawyers from a group of unsecured creditors objected, questioning the sound judgment behind the proposal.
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