Beleaguered crypto lender Voyager Digital Holdings says it has obtained a lot of “larger and higher” buy-out gives than that provided by AlamedaFTX again in July, opposite to the funding agency’s continued public statements.

The corporate has additionally simply been cleared to return $270 million of buyer funds held at theMetropolitan Industrial Financial institution (MCB) by the decide presiding over its chapter proceedings in New York.

In a Second Day Listening to Presentation on Aug. 4, Voyager said that it has received phrase from as many as 88 events eager to bailout the corporate from its monetary woes, including it’s in “energetic discussions” with over 20 doubtlessly events.

One of the vital high-profile bids got here from Alameda Ventures and FTX in July.

Alameda had proposed to purchase all of Voyager’s belongings and excellent loans besides the defaulted mortgage to Three Arrows Capital, then liquidate the belongings and distribute funds in USD by means of the FTX US trade.

This was rejected by Voyager on July 25 on the grounds that it was not “value-maximizing” for its prospects.

The corporate additionally famous that it has already obtained bids by means of the advertising and marketing course of which are “larger and higher than AlamedaFTX’s proposal,”opposite to alleged “inaccurate” public statements from AlamediaFTX.

Voyager said that it has additionally individually despatched AlamedaFTX a stop and desist letter relating to its “inaccurate” public statements, confirming that AlamedaFTX doesn’t have a “leg up” on different bidders.

$270M in buyer funds returned

Information about different bidders comes on the identical time that U.S. Chapter Courtroom Choose Michael Wiles has given Voyager the all-clear to return a portion of their buyer’s money deposits.

In keeping with an Aug. 4 report from the Wall Road Journal, Choose Wiles said that Voyager had provideda “adequate foundation” for its declare that prospects needs to be entry to the custodial account held at Metropolitan Industrial Financial institution (MCB), which is known to carry $270 million in money.

[DB] Voyager secures approval to return $270 million in buyer money: WSJ

— db (@tier10k) August 4, 2022

Voyager had funds stashed within the account on the financial institution when it filed for chapter on July 5. These funds have been frozen when chapter proceedings started.

Deposits at non-bank entities, together with crypto companies, usually are not insured — FDIC

Voyager Digital CEO Stephen Ehrlich mentioned in July that he supposed to return buyer funds from MCB as quickly as a “reconciliation and fraud prevention course of” was accomplished, and the agency reportedly requested to have the funds in MCB launched on July 15.

Voyager’s debt quantities to a sum no larger than $10 billion from roughly 100,000 collectors, however shouldn’t be the one such brokerage, lender, or funding agency in crypto to have befallen exhausting instances for itself and its customers. Celsius, Three Arrows Capital, BlockFi, and others have additionally been swept up within the ongoing saga.