Customers of bankrupt Voyager receive a lifeline from this cryptocurrency white knight

In recent weeks, Bankman-Fried has emerged as cryptocurrency’s saviour, extending lifelines to digital asset platforms that have faltered during the crypto cold.

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The Sam Bankman-Fried-led cryptocurrency exchange FTX announced on Friday that it was preparing to provide Voyager Digital’s customers access to part of their funds, the latest rescue gesture for the struggling crypto industry.

With the exception of the debts to the insolvent crypto hedge fund Three Arrows Capital, all of Voyager’s digital assets and digital asset loans would be purchased by Bankman-trading Fried’s company, Alameda Ventures.

If they open an account with FTX, customers of Voyager could then receive a portion of those funds. According to the corporation, these consumers could either withdraw their cash balance right away or utilise it to make purchases on FTX’s platform.

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Early August is when FTX anticipates the deal to be finalised. The corporation also stated that participation in the programme would be optional.

Voyager declared bankruptcy under Chapter 11 earlier this month. The business and Alameda Ventures had agreed to a revolving line of credit in June.

In recent weeks, Bankman-Fried has emerged as cryptocurrency’s saviour, extending lifelines to digital asset platforms that have faltered during the crypto cold.