HomeCrypto NewsBitcoinSam Bankman-Fried criticizes Voyager for rejecting...

Sam Bankman-Fried criticizes Voyager for rejecting FTX proposal

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Following the bankruptcy, Voyager Digital rejected its proposal to buy assets and loans – with the exception of a loan to crypto hedge fund Three Arrows Capital – FTX CEO Sam Bankman-Fried (SBF) took to Twitter to lash out. 

In a topic On Twitter, SBF stated that Voyager customers cannot get their assets back until the bankruptcy process is over. 

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Citing the example of the cryptocurrency exchange Mt. Gox, where bankruptcy is still ongoing after eight years, SBF says bankruptcy process freeze customer money and can take years to settle. 

SBF wrote on Twitter: “Meanwhile, bankrupt companies are slowly draining their clients' frozen assets with consulting fees. This can cost customers hundreds of millions of dollars until it's all over."

According to SBF, it was bankruptcy consultants and those who wanted to set lower prices for clients' assets who resisted his buyout proposal.

On Friday, FTX and related entities made a proposal to purchase Voyager's assets and loans in cash at market value, allowing customers to recover the remaining assets and maintain claims against any future withdrawals from 3AC.

However, in a court filing, Voyager rejected the proposal, calling it "a low bid disguised as a rescue" and saying no customers would be taken. all as suggested. 

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