If the insolvency sale is successful, Voyager clients could receive 72%.

According to attorneys, FTX Us has been successful in securing a two-week auction for Voyager as part of an agreement linked to the high court authorization of the creditors payment plan.

If Voyager is fortunate to secure a better offer that will pay its clients more, they may decide to terminate the current one. On Wednesday, US Bankruptcy Judge Michael E. Wiles gave his approval to this arrangement.

Wiles has also encouraged Voyager to include a conventional bankruptcy condition known as a “fiduciary exit.” It enables businesses that are bank-protected to accept greater bids until a deal is completed. Christine Okike, a Voyager bankruptcy lawyer, informed Wiles that FTX is currently the “sole feasible choice” for the business. However, they have decided to modify the fiduciary out so that a superior offer might be taken into consideration.

Voyager claims that Wiles has been asked for authorization to submit the settlement plan for a vote to creditors and clients. In the event that creditors approve the transaction, Wiles has also been requested to do so.

The estimated price of the sale of Voyager to FTX is $1.4 billion, of which $51 million will be paid in cash. Additionally, FTX will transfer clients to its system as part of the deal.

When FTX takes over, consumers who used digital currencies on Voyager's platform may still receive their payouts in those forms provided FTX accepts those currencies, according to attorneys who spoke to Wiles about the payout plan.

As per Bloomberg, the acquisition followed multiple previous attempts by the FTX to save or buy Voyager. At the end of March, Voyager, headquartered in New York, had 1.19 million funded accounts and around 3.5 million users.

In July, Voyager submitted a bankruptcy petition. After Alameda Research's failed effort to save it with a rolling line of credit, it did so. Brokerage firm Alameda Research is connected to FTX. A combined offer for Voyager was made public shortly after that effort by FTX and Alameda. Voyager rejected the proposal, calling it a “lowball” offer. Alameda announced in September that it would repay the $200 million in Bitcoin and Ether it had lent to Voyager before the month was out.

Along with Voyager, Bankman-Fried has acquired a number of struggling crypto companies through which he has acquired clients and priceless technologies at a discount. According to estimates, Bankman-Fried owns nearly all of Alameda, 70% of FTX US, and more than 50% of FTX.

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