FTX said on Friday it was planning to offer Voyager Digital's customers access to some of their funds, the latest relief measure by the Sam Bankman-Fried-led cryptocurrency exchange for the ailing crypto industry.
Under the plan, Alameda Ventures, the trading firm also
founded by Bankman-Fried, would purchase all of Voyager's digital assets and
digital asset loans, except the loans to bankrupt crypto hedge fund Three
Arrows Capital.
FTX expects to close the deal in early August. Participation
in the plan would be voluntary, the company added.
Voyager filed for Chapter 11 bankruptcy earlier this month.
In June, the company had signed an agreement with Alameda Ventures for a
revolving line of credit.
Bankman-Fried has become crypto's white knight in recent
weeks, throwing lifelines to digital asset platforms that have stumbled in the
crypto winter.