In a recent report, FTX sent 50,000 Ethereum worth about $65 million to Voyager Digital’s main wallet. Alex Svanevik is the CEO of Nansen, which provides blockchain analytics services. tweet.
Some crypto companies were forced to liquidate due to the crypto winter. This bearish market drove some companies out of crypto. Some firms even had to drastically reduce their workforce, while some others shut down operations. Coinbase was one of the companies that had to lay off 20% of its staff due to liquidity concerns.
Voyager Digital is one of those companies which ceased to exist. Sources said that Voyager Digital had stopped any transactions made on the platform. In July, the company filed Chapter 11 bankruptcy.
Voyager opened its doors for asset auctions last month and FTX was the clear winner. FTX bought assets worth about $1.4billion from Voyager by beating Binance. Later, the company transferred some funds into crypto lending companies.
FTX transfers 50K Ethereum with no court approval
Voyager Digital has recently announced an auction to purchase its assets. This attracted several companies, including Binance (a cryptocurrency exchange). FTX US, however, outbid all other firms and won the Voyager assets acquisition.
To complete its acquisition of crypto assets, the FTXUS will be receiving $1.4billion worth. Voyager will present to FTX USA the asset purchase contract. It was set for October 19, 2009 at the US Bankruptcy Court of Southern District of New York.
But without the court’s approval of the asset purchase agreement, FTX transferred 50K ETH to Voyager. This transfer may be related to the acquisition of assets worth $1.4 billion. The $60 million includes incentives and earn-outs. An additional $51 million is paid in cash.
Regulators Oppose Asset Acquisition in the Face of FTX Token Pump and Dump
FTX USA has been opposed by some regulatory agencies. They include the Texas State Securities Board (TSB) and Texas Department of Banking (TDB).
Reports claim that regulators have begun to investigate FTX Trading and FTX US. They also plan on investigating some of the executives involved, such as Sam Bankman-Fried, CEO. They offer securities that are not registered to US citizens, according to the watchdogs.
Additionally, the regulators think FTX US provides yield-bearing accounts similar to Voyager’s yield-bearing depository accounts.
Also, FTX is restricted through the objection in limiting the Debtor’s liability. Finally, following the FTX transfer of 50K ETH news, the FTX token, FTT, has experienced a dump and pump effect.
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