FTX CEO Sam Bankman-Fried says he wants to give Voyager customers 100% of the lender's remaining ass
FTX CEO Sam Bankman-Fried is responding to claims that his company's offer to rescue clients of crypto brokerage firm Voyager Digital is predatory in nature.
Voyager Digital declared bankruptcy earlier this month after hedge fund Three Arrows Capital (3AC) defaulted on a $650 million loan.
With Voyager on the verge of bankruptcy, FTX announced last week that it was giving the firm's clients the opportunity to cash out some of their assets.
In a series of tweets, Bankman-Fried says Voyager's customers are in a losing position as the company goes through bankruptcy proceedings.
"The longer the process drags on, the more optionality customers lose.There's a long, drawn-out process during which funds are frozen. It can take years... Meanwhile, all this time various bankruptcy agents are slowly draining the frozen assets of the client, paying for consulting services. By the time all is said and done, it could cost customers hundreds of millions of dollars. Many parties have tried to offer $0.10 per dollar for assets. If the client had $100 on the platform, the third party would pay $10 for it, receive the remaining funds (maybe $75), and the client would return $10."
The cryptomillionaire refutes claims that his firm's offer will further harm Voyager customers.
"We have submitted an offer: if it is accepted, any willing buyer will be able to come and return his share of everything that is left as soon as possible.
This will allow customers - if they want - to immediately return the remaining assets, without any commissions or additional discounts."
The 30-year-old executive says that the goal of Voyager's clients is to get all the remaining assets of the bankrupt brokerage company, as well as those that it will be able to recoup in the future.
"At the end of the day, we believe Voyager's customers should have the right to quickly claim their remaining assets if they want, without chasing rent in the middle. They've been through enough.
To clarify: our offer will return to Voyager customers 100% of the remaining assets that Voyager owns, including claims for everything that will be returned in the future."
https://coin-signal.com/cryptonews/ftx-ceo-sam-bankman-fried-says-he-wants-to-give-voyager-customers-100-of-the-lenders-remaining-assets/
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