No customer will be made whole under ftx proposal. But ftx is saying no this this is actually what's best for your clients. Now if you're like me you're involved in this voyager saga. Obviously it's leaving that pit in your stomach.

Because you feel like you just lost a lot of money. But there might be an interesting avenue to actually get your funds back here's what's going down potentially between ftx and voyager so the ftx ceo sam bakeman. Fried said his firm's offer would give voyager customers back 100 of the remaining assets while voyagers lawyers argue that it only benefits ftx. This is one of those interesting situations where both sides are arguing they're doing what's best for the clients.

Now obviously when i'm hearing from ftx. Who has been the crypto player. That's been bailing out all other crypto players is saying hey. We're willing to give voyagers customers 100 back of the remaining assets.

Obviously my ears perk up and if you're involved with voyagers. Yours should as well. Voyager's lawyers. They're arguing the opposite.

So they said. The lowball bid. Dressed up as a white knight rescue that only benefits ftx transfers. Significant value to alameda ftx and this is in relation.

This is a hedge fund that's owned by sbf sam bakeman pride. So obviously. He's the founder of the ceo of ftx. So there's a little bit of interconnection there between alameda and then ftx itself completely eliminates the value of assets that are of no interest to alameda.

I would like a little bit of clarification on what that actually means under ftx's plan first proposed late last week. Interested voyager customers would be able to have in advance on their bankruptcy claims. Remember. The mount gox blow up of bitcoin like years ago.

It literally just got resolved so this bankruptcy. The chapter 11 restructuring. It could take years like multiple years so they're saying okay we're going to give 100 back and we're going to do it earlier. So.

That's why people are interested to see like what's actually happening here. They could use this to buy more digital assets on ftx or withdraw cash. Now. If you're a person stuck in voyager like me you like the sound of this.

But some obviously on the other side not so much this is a recent tweet from sbf to clarify our offer would give voyager customers back 100 of the remaining assets that voyager has including claims on anything recovered in the future. So it looks like maybe not 100 of what everyone thinks they should have just 100 percent of like what's going on with voyager at this moment in time so basically like all those bad bets with 3ac that type of thing those might be gone. But once again i'm not a lawyer. I don't speak legalese just trying to share some of the most interesting news recently with voyager all right so this is according to voyager's lawyers.

It seems clear. However that alameda ftx's proposal. Which was made in contravention of the proposed bidding procedures was designed to generate publicity for itself rather than the value of voyager's customers. Alameda ftx.

Essentially proposed a liquidation where fdx serves as the role of liquidator. The fair value of voyagers cryptocurrency assets and loans is subject to negotiation with alameda ftx. This is a tough thing to really break down. Unless you're not only very knowledgeable about the crypto sphere and finance in general and i guess bankruptcy hearings.

But also particularly this weird interconnection that we have going on real time in the world of crypto. Because both sides are saying once again that they're arguing and trying to do what's best for their clients. But how do we know that and that's the tough thing at the end of the day is ftx just trying to pick something up on the cheap. And if they do will that benefit the current clients that got screwed on voyager or is it the other way around.

Where voyager is like whoa whoa whoa. This isn't best for our clients and really. The lawyers are just arguing for the company and not the clients and they just care about like their whatever sweet sweet deals so with it this is what's going on right now honestly if it continues this pathway. I'll probably ask a lawyer to come on especially.

One that has knowledge of bankruptcy hearings to maybe better explain it to all of us. But hey i thought this was a juicy story. I would love to get your thoughts and a comment below whose side are you on in this let me know are you on ftx's side. Do you think that they're here to actually help out the voyager clients who got screwed over or are you on voyager side.

And you think ftx is just taking advantage of the situation. And maybe the end results aren't the best for the clients of voyager anyway. Let me know your thoughts in a comment below.