FTX to Offer Early Liquidity to Customers of Bankrupt Crypto Lender Voyager

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FTX to Offer Early Liquidity to Customers of Bankrupt Crypto Lender Voyager
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.FTX_Official has proposed a joint plan with investvoyager to allow the latter’s customers to create FTX accounts funded by an early distribution of a part of their bankruptcy claims. camlearnscrypto reports

Voyager customers who take the offer will have an opening cash balance funded by an early distribution on a portion of their bankruptcy claims, FTX said. They would be able to withdraw their cash immediately or use it to purchase digital assets on FTX. Voyager customers would not be required to participate in the plan.

“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,” said Bankman FriedFTX also said it will not be acquiring Voyager’s loans to hedge fund Three Arrows Capital, which alsothis month, as part of the plan.

FTX plans to complete the transaction in early August. The exchange did not respond to requests for more information by press time.

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