FTX Will Partially Compensate Voyager Users If They Register For An Exchange Account
Cryptocurrency exchange FTX has launched a plan to “rescue” Voyager users if they sign up for an account on the exchange.
As has been updated in previous articles by coincu News, Voyager is one of the crypto companies that suffered heavily during the recent liquidity crisis.
Voyager bankruptcy news made their users suffer along with the company. Specifically, customers holding crypto assets in the company account will receive a portion of the remaining crypto assets, debt recovery from 3AC, shares in the new Voyager company after debt restructuring and tokens of Voyager.
FTX CEO’s “rescue” plan
In the latest developments, FTX on the evening of July 22 shared a plan to “partially rescue” Voyager users, in collaboration with Alameda Research foundation. Accordingly, customers will receive a part of the money in their Voyager account through the account they set up on FTX.
The proposal would have to get approval from the court in order to pass. Even so, FTX hopes to finalize the deal with Voyager as soon as possible at the end of July to start the rollout from August.
“The goal of our joint proposal is to help establish a better way to resolve an insolvent crypto business – a way that allows customers to obtain early liquidity and reclaim a portion of their assets without forcing them to speculate on bankruptcy outcomes and take one-sided risks.”Sam Bankman-Fried said
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews