Voyager formally terminates sale deal with FTX, keeps deposit

By Sarah Lizee

Olympia, Wash., Dec. 12 – Voyager Digital Ltd. has officially terminated the agreement under which FTX US was poised to buy the company’s assets, according to a notice filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

Voyager had previously received court approval to sell its assets to FTX as winning bidder, but the no-shop provisions of the asset purchase agreement between Voyager and FTX US were no longer binding following FTX’s own Chapter 11 filing made on Nov. 11.

As a result, Voyager reopened the bidding process and began discussions with alternative bidders.

Voyager is entitled to continue to hold FTX’s $5 million good-faith deposit.

Voyager Digital is a cryptocurrency broker based in New York. The company filed bankruptcy on July 5 under Chapter 11 case number 22-10945.

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