In a press release this week, Voyager Digital, a cryptocurrency exchange that recently filed for Chapter 11 bankruptcy, announced that it selected the FTX US cryptocurrency exchange "as the highest and best bid for its assets" in a competitive auction. According to the press release, "FTX US's bid is valued at approximately $1.422 billion, comprised of (i) the fair market value of all Voyager cryptocurrency at a to-be-determined date in the future, which at current market prices is estimated to be $1.311 billion, plus (ii) additional consideration that is estimated as providing approximately $111 million of incremental value." The press release notes that the agreement "will be presented for approval to the United States Bankruptcy Court for the Southern District of New York on Wednesday, October 19, 2022."
In another recent press release, The INX Digital Co. (INX) "announced ... that its security token trading platform and cryptocurrency trading platform have converged and now offer ... the world's first and only fully-regulated, end-to-end platform for listing and trading both SEC-registered security tokens and cryptocurrencies." Separately, according to recent reports, UK-based digital bank Revolut recently achieved registration from the UK Financial Conduct Authority to offer cryptocurrency services in the UK.
For more information, please refer to the following links:
- Voyager Completes Successful Auction and Announces Agreement for FTX to Acquire Its Assets
- INX ONE LAUNCHES AS FIRST AND ONLY FULLY-REGULATED TRADING PLATFORM FOR BOTH SECURITY TOKENS AND CRYPTOCURRENCIES
- Digital Bank Revolut Wins FCA Registration to Offer Crypto Services in UK
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