Celsius and Voyager Digital Disclose Exposure to FTX

• Voyager said that recent events had an impact on the company’s bankruptcy filing. 
• FTX explored acquiring Celsius when the latter suspended withdrawals.

Celsius reported being exposed to FTX. On November 11, the business tweeted that it has FTX contracts locked up for 3.5 million SRM ($1.3 million). It also disclosed that the FTT token was collateral for $13 million in loans to Alameda Research that were not adequately backed. Celsius also said that it is “closely monitoring” developments and is in constant contact with stakeholders.

A deeper connection exists between the two businesses, as FTX explored acquiring Celsius when the latter suspended withdrawals in June, only to back out after learning more about Celsius’ financial situation. This week, Binance overturned its decision to save rival cryptocurrency exchange FTX after learning the full nature of the latter’s financial woes.

Voyager Auction Nullified

This autumn, the assets of Celsius were put up for auction, and FTX gave serious consideration to placing a bid. Until December now, there has been no bidder named for the auction. In the meanwhile, Voyager said that recent events had an impact on the company’s bankruptcy filing. In the months after filing into bankruptcy in July, Voyager sold off assets worth $1.4 billion at auction.

That offer was awarded to FTX in September, but the transaction wasn’t finalized until FTX’s own demise this week. According to Voyager, FTX US has not transferred the auctioned assets and has only provided a $5 million “good faith” payment.

Voyager, though, claims it still has $3 million in crypto, mostly Terra (LUNA) and Serum (SRM) tokens, locked in contracts at FTX. Consequently, Voyager retains some risk associated with the bankrupt firm.

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