“It’s a low-ball bid dressed up as a white knight rescue,” the bankrupt crypto-lending firm wrote in a court filing. (The Logic)

Talking point: On July 22, FTX made an offer to buy all Voyager digital assets and digital-asset loans, except those made to Three Arrows Capital, the bankrupt hedge fund whose inability to make payments to creditors took down a number of crypto firms, including Voyager. Although based in the U.S., the company traded on the Toronto Stock Exchange until its shares were suspended on July 6 after it filed for bankruptcy. Under FTX’s proposal, Voyager customers would be able to withdraw their funds by making an account at the exchange. In a tweet thread after Voyager’s filing, FTX CEO Sam Bankman-Fried accused Voyager’s consultants and other third parties of opposing the bid in order to maximize the fees they would earn throughout the process.