SA国际传媒

The fallout from this summer鈥檚 notable crypto bankruptcies continues to trickle in.

On Tuesday, it was announced 鈥檚 crypto exchange giant would buy the assets of crypto lender , which filed for bankruptcy in July for $1.4 billion.

The deal was announced in a from Voyager after won an auction for its assets. The U.S. subsidiary of FTX will pay the current estimated market price of $1.3 billion, plus an additional $111 million in anticipated incremental value, according to the post.

The deal is just the latest for Bankman-Fried, as he has used this crypto winter to go shopping for value. In July, FTX provided a $250 million line of credit to lender which includes an option to buy. In a recent , he said the exchange giant has at least $1 billion to use on acquisitions and bailouts.

In July, Voyager for bankruptcy. In that filing, the company specifically noted that crypto hedge fund 鈥攐r 3AC鈥攈ad defaulted on a loan. Singapore-based 3AC collapsed after the downturn in digital currencies left it unable to meet obligations and filed for Chapter 15 bankruptcy itself on July 1.聽

Stepping aside

A week after Voyager鈥檚 filing, lender filed for Chapter 11 protection, and on Tuesday the company announced Chief Executive Officer has decided to step down.

“I regret that my continued role as CEO has become an increasing distraction, and I am very sorry about the difficult financial circumstances members of our community are facing,” Mashinsky said in his resignation.

In July, Celsius said it was filing for bankruptcy to 鈥渟tabilize its business and consummate a comprehensive restructuring transaction,鈥� and listed .

Crypto lenders have found themselves vulnerable after offering high-yield crypto loans as cryptocurrency prices have crashed this year.

Further reading:

Crypto Lending Platform Celsius Network Files For Bankruptcy

Crypto M&A Slows As Its Own Type Of Winter Sets In

The SA国际传媒 Web3 Tracker

Illustration: