Voyager’s Looming Bankruptcy Crypto Sale to FTX: Explained

Voyager Digital’s deal to unload its crypto assets in a $1.4 billion bankruptcy sale to FTX US received initial approval from a New York court this week.

Other interested bidders can still make higher offers for the assets. But the sale would be part of the crypto lender’s broad Chapter 11 liquidation plan that will need court approval in December.

The transaction, for now, is the leading offer that would migrate more than 1 million customer accounts to FTX. The $1.4 billion price tag largely reflects the estimated future value of Voyager customers’ cryptocurrency.

If Voyager’s liquidation plan is court-approved, ...