FTX Pays Voyager Digital ETH After Bankruptcy Buyout Creating Token Dump and Pump
3 min read
On Tuesday, the cryptocurrency exchange FTX deposited 50k ETH to Voyager Digital’s primary wallet. Last month, the cryptocurrency exchange outbid rival cryptocurrency exchange Binance and purchased Voyager Digital assets for $1.4 billion. Additionally, Texas officials are currently looking into FTX Trading, FTX US, and its management, including co-founder Sam Bankman-Fried.
FTX Sends 50K ETH Worth 65 Million to Voyager
Alex Svanevik, CEO of blockchain analytics platform Nansen, in a tweet on October 18 revealed that FTX has transferred 50K ETH worth $65 Million to bankrupt crypto lender Voyager Digital’s main wallet.
On September 26, FTX US outbid others including crypto exchange Binance to win an auction to acquire Voyager Digital assets. The crypto exchange transferred cryptocurrencies valued at $1.4 billion to complete the acquisition. Voyager Digital will present the asset purchase agreement with FTX US for approval to the U.S. Bankruptcy Court for the Southern District of New York on October 19.
Meanwhile, the Texas State Securities Board and the Texas Department of Banking object sale of Voyager assets to FTX US. In fact, the regulators are investigating FTX Trading, FTX US, and its executives for offering unregistered securities to US residents. Texas regulators believe FTX US is offering yield-bearing accounts similar to Voyager Digital’s yield-bearing depository accounts. Moreover, the objection restricts FTX to attempt to limit the Debtors’ liability.
However, FTX has now transferred 50K ETH transfer to Voyager before the approval of the asset purchase agreement by the court. The fund transfer is likely related to the $1.4 billion asset acquisition that included an additional $51 million cash payment and $60 million in earnouts and incentives.
FTX Token (FTT) Dump and Pump
FTX Token (FTT) witnessed a dump and pump after the news. At the time of writing, the FTT price continues to trade sideways near the $24 level.
FTX CEO Sam Bankman-Fried earlier announced the FTX v2 to be introduced near Thanksgiving, which will double the order throughput and half the order latency on the exchange.
Moreover, Sam Bankman-Fried has also shown interest in acquiring Celsius assets.
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