FTX Proposed to Offer Early Liquidity to Customers of Voyager Digital

FTX announced a joint offer with West Realm Shires Inc., the owner and operator of FTX.US, and Alameda Ventures Ltd, to provide early liquidity to customers of Voyager Digital, which filed for bankruptcy this month. FTX said that under the joint proposal, customers of Voyager would have the opportunity to start a new account with FTX with an opening cash balance funded by an early distribution on a portion of their bankruptcy claims. Customers would be able to withdraw their cash immediately, or use it to purchase digital assets on the FTX platform. Participation in the joint proposal is voluntary. Currently, the proposal has not been accepted by Voyager, and it needs the court's approval. FTX hopes to finish the transaction in early August.