TechFlow news — Centralized crypto lender Voyager Digital Holdings has rejected a proposal from FTX and its investment arm Alameda Ventures to acquire its digital assets, citing that the actions "do not maximize value" and could "harm customers."
In a rejection letter filed with the court on July 24 as part of its ongoing bankruptcy proceedings, Voyager's lawyers criticized an offer made public on July 22 by FTX, FTX US, and Alameda to acquire all of Voyager’s assets and outstanding loans, excluding those loaned to the defaulted borrower 3AC.
The letter stated that publicly disclosing such an offer could undermine "a coordinated, confidential, competitive bidding process," jeopardizing any other potential deals, and added that "Alameda and FTX have violated numerous obligations to the debtor and the bankruptcy court."
Voyager’s representatives suggested their own proposed plan for restructuring the company would be superior, as it would return cash and as much cryptocurrency as possible to all customers in a timely manner.
