FTX crypto exchange announced on Friday that its plans to give Voyager Digital’s customers access to some of their funds.
According to a joint proposal between FTX and Alameda Ventures, a trading firm founded by Bankman-Fried, Voyager customers will be able to claim a part of their funds that were frozen more than three weeks ago. It is, however, unclear how much each customer will be able to receive.
As per the joint plan, Alameda Ventures will buy all of Voyager’s digital assets and digital asset loans, except Voyager’s loans to the bankrupt crypto hedge fund Three Arrows Capital.
Voyager’s clients could then get some of their funds if they open an account with FTX. Such customers could either make withdrawals of their cash balance immediately or use the funds to buy digital assets on FTX‘s platform, FTX said.
Customers are expected to participate voluntarily, the company added.
FTX expects to close the deal in early August, subject to the requirements of the Chapter 11 process...
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