SCOOP: BinanceUS is said to be preparing a bid for bankrupt crypto lender Voyager, according to a source. By IanAllison123
Thomas Braziel, managing partner at investment firm 507 Capital said matters are complicated by the fact Voyager is going to have a claim against the FTX estate for breach of contract.
“The problem is that the claim is only going to be against FTX US,” said Braziel in an interview. “I worry a lot of the collateral is going to be held in trust. So any cause of action they have could end up being behind all the customers. And the problem is that if customers aren’t going to be made whole, then what’s your unsecured claim going to be worth? It’s going to be worth bupkis.
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