FTX Offers to Bail Out Voyager Customers in Joint Liquidity Proposal

Debtors of crypto lender Voyager may still pursue their claims against now-defunct Three Arrows Capital for additional recoveries

article-image

FTX’s Sam Bankman-Fried | Blockworks exclusive art by axel rangel

share

key takeaways

  • Voyager customers are being offered the opportunity to receive liquidity and an option to sign up for FTX
  • Customers will be able to withdraw their cash immediately or use it to purchase digital assets on the FTX platform

Customers of bankrupt crypto lender Voyager have been thrown a lifeline from digital assets exchange FTX, offering to provide them with early-access liquidity.

Under a joint proposal between FTX and West Realm Shires — owner and operator of FTX US and Alameda Ventures — Voyager customers will be able to claim a portion of their funds that were frozen more than three weeks ago. It’s not yet clear how much each customer will be able to withdrawal.

Customers will be required to start a new account with FTX to receive a cash balance funded by an early distribution on a portion of their bankruptcy claims, according to a statement on Friday.

Customers will also be able to withdraw their cash immediately or use it to purchase digital assets on the FTX platform, the exchange said.

It marks the latest aggressive move for the exchange — which has swooped in to assist ailing crypto firms caught up in the recent lending and liquidity crisis impacting the industry at large.

The exchange recently reached a deal to acquire troubled lender BlockFi for up to $240 million and agreed to purchase Bitvo and Embed Financial earlier in June. 

Its move also comes as Alameda Research — founded by FTX CEO Sam Bankman-Friedloaned $500 million to Voyager last month in a bid to help ease its market woes and alleviate financial stress.

“Voyager’s customers did not choose to be bankruptcy investors holding unsecured claims,” Bankman-Fried said in the statement. “The goal of our joint proposal is to help establish a better way to resolve an insolvent crypto business — a way that allows customers to obtain early liquidity and reclaim a portion of their assets without forcing them to speculate on bankruptcy outcomes and take one-sided risks.”

Earlier this month, Voyager filed for a Chapter 11 bankruptcy less than a week after suspending trading and withdrawals. Voyager became the industry’s latest lender caught up by the collapse of Singapore-based Three Arrows Capital.

The exchange expects to conclude its offer to Voyager customers by early August which will be subject to the requirements of the Chapter 11 bankruptcy proceedings and court approval.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Featured.png

Research

Helium stands at a pivotal moment in its evolution as a decentralized wireless network, balancing rapid growth, economic restructuring, and global expansion. With accelerated growth in domestic DAUs and Hotspots supporting its network, Helium is leveraging strategic partnerships and innovative proposals to scale internationally. The recent implementation of HIP 138, “Return to HNT,” has unified its token economy under HNT, simplifying participation and strengthening liquidity, while HIP 139’s phase-out of CBRS refocuses efforts on scalable Wi-Fi offload. Meanwhile, governance shifts under HIP 141 raise questions about centralization as Nova Labs consolidates control over the roadmap.

article-image

In 2011, WikiLeaks faced a financial blockade imposed by the US government. It was Bitcoin’s first major test.

article-image

Kado’s founder Emery Andrew spoke to Blockworks about the acquisition and what’s next for the team

article-image

LayerZero’s Bryan Pellegrino chatted with Blockworks about the firm’s next steps and its 10-year runway

article-image

Colosseum co-founder Matty Taylor is seeing “high-performance [Solana] founders showing a lot of interest in private trading technology”

article-image

Executives weigh the growth potential they see in the public stock and private credit/equities arenas

article-image

Players can stake ME, trade tokens and link wallets to climb the leaderboard