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FTX Transfers 50k Ethereum To Voyager Amid An Investigation

FTX US outbid competitors in an auction to purchase Voyager Digital assets. The crypto exchange transferred cryptocurrency worth $1.4 billion to complete the deal. 

18 Oct 2022 By: Anirudh Trivedi
FTX Transfers 50k Et

On Tuesday (Oct 18), crypto exchange FTX transferred 50,000 ETH 

To the official wallet of crypto lender Voyager Digital. 

Last month, the crypto exchange outbid rival crypto exchange Binance for Voyager Digital assets worth $1.4 billion. Furthermore, Texas officials are looking into FTX Trading, FTX US, and its management, including co-founder Sam Bankman-Fried.

In a tweet on October 18, Alex Svanevik, CEO of blockchain analytics platform Nansen, reported that FTX had transferred 50,000 ETH worth $65 million to the official wallet of bankrupt crypto lender Voyager Digital.

On September 26, FTX US outbid competitors in an auction to purchase Voyager Digital assets, including crypto exchange Binance. To complete the deal, the crypto exchange transferred cryptocurrency worth $1.4 billion. On October 19, Voyager Digital will propose the asset acquisition agreement with FTX US to the US Bankruptcy Court for the Southern District of New York for approval.

Meanwhile, the Texas State Securities Board and the Texas Department of Banking are opposing the transfer of Voyager assets to FTX US, and the regulators are looking into FTX Trading, FTX US, and its officials for marketing unregistered securities to US customers. Texas officials believe FTX US is promoting yield-bearing accounts identical to those offered by Voyager Digital. Furthermore, the objection prevents FTX from attempting to minimize the Debtors' responsibility.

However, FTX has now transferred 50,000 ETH to Voyager prior to the court's confirmation of the asset acquisition deal. The capital transfer is most likely tied to the $1.4 billion asset acquisition, which included a $51 million cash payment and a $60 million earnout and incentive package.

FTX Token Dump and Pump

Following the announcement, FTX Token (FTT) saw a dump and pump. At the time of writing, the FTT price was trading sideways at the $24 level.

FTX CEO Sam Bankman-Fried previously claimed that the FTX v2 will be launched near Thanksgiving, doubling order throughput and halving order delay on the exchange. Furthermore, Sam Bankman-Fried has expressed interest in acquiring Celsius assets.

Read also: Cryptocurrency Will Become a "Major" Payment Disruptor: Walmart CTO