There’s no end in sight when it comes to Sam Bankman-Fried’s crypto winter shopping spree.
After several rounds of intense bidding, billionaire Sam Bankman-Fried’s cryptocurrency exchange, FTX US, has won the bankruptcy auction to scoop up Voyager’s remaining assets for a whopping $1.4 billion.
Voyager, a popular digital asset lender, filed for Chapter 11 bankruptcy protection in July after it suffered huge losses from market volatility and exposure to Singapore-based crypto hedge fund Three Arrows Capital’s $660 million loan default.
Based on the court filings, FTX is paying $51 million in cash for the firm itself. The bulk of the offer — approximately $1.3 billion based on the fair market value of Voyager’s crypto at a to-be-determined date – will be focused on bailing out investors’ holdings that were stuck in bankruptcy limbo since 1 July 2022. Ironically, Voyager had snubbed a deal from FTX to purchase its assets in July, describing the proposal as a “low-ball bid dressed up as a white knight rescue”.
TOKEN2049: Asia’s largest Web3 conference
28 September 2022
TOKEN2049, a premier cryptocurrency conference and flagship event of this year’s Asia Crypto Week made its Singapore debut on 28 September.
Despite the bear market, the 2-day Web3 event (which also coincides with the return of the Formula 1 Singapore Grand Prix) attracted a record-breaking 7,000+ attendees, 2,000+ global companies and 250+ sponsors, cementing Singapore’s position as a regional crypto hub.
From crypto’s foremost dealmakers to industry shakers, TOKEN2049 featured a star-studded line-up of speakers including Galaxy Digital CEO Mike Novogratz, BitMEX CEO Alexander Höptner, Pantera Capital CEO Dan Morehead, Aave founder and CEO Stani Kulechov as well as OKX brand ambassador F1 McLaren Racing driver Daniel Ricciardo.
On top of meet-ups, workshops, and networking opportunities, TOKEN2049 also hosted a first-of-its-kind, immersive NFT experience. Titled the OP3N WHALE NFT Exhibition, the exhibition unveiled the world’s largest collection of rare, high-valued NFT assets with a market value exceeding $100 million.
The next edition of TOKEN2049 will take place in London from 9 to 10 November this year.
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