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Auction date set for Voyager Digital assets
, author of Illustration: Aïda Amer/AxiosExit Content Preview A date has been set for the auction of Voyager Digital assets. According to a , the sale will take place Sept. 13 — about two months after the crypto lender first entered bankruptcy proceedings. Why it matters: The winning bid could set a precedent for how future crypto bankruptcy reorganizations are structured. Details: The auction will start next Tuesday at 10am ET, and a hearing to approve the results is set for Sept. 29.The deadline for qualified bids, which had been extended after interested parties requested more time, was yesterday. The intrigue: According to Voyager’s original reorganization plan, customers were promised some combination of crypto, shares in the newly reorganized company, and Voyager tokens. But with Voyager's assets going up for auction, it's unclear what customers can expect to recoup once all is said and done. State of play: Several companies have shown interest in the company's assets, with Voyager previously saying it was in meaningful discussions with at least 22 parties.One notable bidder is FTX CEO Sam Bankman-Fried, who made a to bail out Voyager customers through the crypto exchange and his investment firm Alameda Research. Yes, but: That proposal was by Voyager Digital, which called it "a low-ball bid dressed up as a white knight rescue.” Flashback: Voyager for bankruptcy July 6, after suspending all trading, deposits and withdrawals from its platform.The firm was one of several counterparties caught up in the of crypto hedge fund Three Arrows Capital (3AC). At the time of its bankruptcy filing, Voyager said 3AC owed it more than $650 million, which included an outstanding loan of 15,250 bitcoin and $350 million worth of USDC.