FTX provides early liquidity to Voyager, which is struggling; rumored to be interested in acquiring the South Korean exchange Bithumb

The cryptocurrency broker Voyager has filed for bankruptcy this month due to a high debt of $650 million owed to Three Arrows Capital that remains unpaid. In response, FTX announced today that they will provide early liquidity for users affected by Voyager's bankruptcy, helping them recover some of their assets.

FTX's Joint Proposal for Liquidity Provision

According to a press release by FTX, the cryptocurrency exchange FTX has announced a joint proposal to provide early liquidity to Voyager Digital's customers in collaboration with West Realm Shires Inc., the parent company of FTX US, and Alameda Ventures.

By acquiring a portion of Voyager's debt, excluding the 3AC portion, Voyager users will only need to open a new account with FTX to access some liquidity based on the bankruptcy claim. Users will be able to freely withdraw and use these funds or purchase assets on FTX.

Currently, this proposal is still in the review process and requires court approval to proceed with the transaction.

"Our joint proposal aims to establish a better way to address the insolvency of crypto businesses, helping customers to access early liquidity and recover some assets without having to speculate on the outcome of bankruptcy and bear unilateral risks," said SBF, CEO of FTX.

FTX Interested in Acquiring Bithumb?

In addition to assisting Voyager users, FTX, which continues to expand its footprint even in a bear market, seems to be interested in acquiring the South Korean exchange Bithumb.

According to a report by Bloomberg, the two companies have been in discussions about the acquisition for several months, but a Bithumb spokesperson stated, "We cannot confirm anything at this stage."