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The other day I wrote an article about Voyager reopening the bidding process for purchase of the company after FTX's collapse.
I received an email directly from Voyager stating that they have officially terminated the purchase agreement with FTX.
"In light of recent events and reports regarding FTX US, the customer vote will be cancelled and the proposed sale will not move forward. You will not need to take any action, regardless of whether or not you have already voted." - The Voyager Team
I also received an email from Stretto, a company overseeing the bankruptcy proceedings for Voyager, that provided a hyperlink to an important document recently filed in Voyager's Bankruptcy case.
Long story short, this document shows that the Confirmation Hearing, for FTX's purchase of Voyager, has been canceled.
"PLEASE TAKE FURTHER NOTICE THAT in light of the facts and circumstances surrounding the FTX Bankruptcy, the Confirmation Hearing is canceled, and the related Voting and Objection Deadline and other deadlines approved by the Court under the Disclosure Statement Order are no longer in effect." - Joshua A. Sussberg, Partner at Kirkland & Ellis LLP
For those affected by the collapse of Voyager, this isn't too much of a surprise, especially after Voyager recently reopened the bidding process.
Regardless, it still feels like another punch to the gut.
The bad news keeps on coming, companies are falling like dominoes, and there doesn't seem to be an end in sight.
It is tough to keep the faith that we will see our crypto again.
At the end of the day, the collapse of FTX, the cancellation of the purchase agreement, and the current hectic state of crypto, can only result in a worse deal for the purchase of Voyager.
This also means a worse deal for all the customers who are waiting to be made whole.
I am normally quite optimistic, but I must admit I am feeling a little down after these emails and just looking at the crypto markets.
If anyone can provide some hope and optimism in the comments, I would greatly appreciate it.