Terms of Sales – After a series of twists and a hell of a game of liar poker, Travel finally accepted the offer of FTX for his redemption. We are now waiting to know a little more about the terms of this agreement and its consequences for users. Voyager’s lawyer has just lifted the veil on a few details. Explanations.
The insatiable appetite of Sam Pacman-Fried
After an auction process that lasted a few weeks, it was finally FTX that won the bet with an offer at 1.4 billion of dollars. In detailsit is actually 1.3 billion plus 111 million in “ additional value “. This sum includes in particular 51 million in payment “ cash » and 20 million in « performance supplement – earn out.
But the negotiation could have failed! Indeed, FTX had initially proposed an offer qualified as too “ low by Voyager, who also criticized his potential buyer for communicating too much in the press, thus violating the confidentiality inherent in this type of file. Finally, Voyager officials are pleased with the final agreement which ” brings a lot more value to the debtors’ property than the original offer “.
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Cryptos and customer account: we know a little more about the terms of redemption
And the customers in all this? They have not been forgotten by the lawyers of the company of Jersey City. In the proposed order filed with the judge Michael Wiles – from the bankruptcy court for the Southern District of New York – it is about the terms withdrawal of assets from former Voyager customers. For them, several solutions:
- they are also clients of FTX and will be able to recover their cryptos through the platform
- if the tokens in question are not taken into account on FTX, it will be money instead
- in the event that they do not wish to open an FTX account, Voyager will handle the distribution. But in what form? Crypto or dollars? To date, no precise information on this subject.
A hearing is scheduled for October 19 for finalize the final details of the operation, but Voyager’s lawyers specify:
“We intend to provide creditors and customers with all the information they need to understand how distributions will be made and in what amount. »
The procedure definitely seems on the right track for settlement in the coming weeks. All the information will of course be found in our columns. After the case Travel, FTX and Sam Bankman-Friedits CEO, will be able to focus more easily on takeover of Twitter. Unless all this is yet another rumor that Wall Street loves!
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