Binance Is Set To Reopen Bid For Voyager Digital’s Assets
- Binance is set to reopen the bid for the now-bankrupt crypto lender Voyager Digital, whose assets were acquired by the US arm of the disgraced crypto exchange FTX, FTX.US.
- FTX.US won the race against Wave Finance and Binance, as the world’s largest exchange’s bid for the U.S.-based Voyager was shut out due to national security concerns.
- Last week, FTX former CEO, Bankman-Fried, popularly known as the “white knight” of the crypto space or SBF, annnounced that his exchange was filing for bankruptcy.
Binance, the world’s biggest crypto exchange, is set to reopen the bid for the now-bankrupt crypto lending platform Voyager Digital, which had earlier finalized a deal with disgraced crypto exchange FTX. However, following the collapse of the Sam Bankman Fried led exchange, Voyager is once again looking for a buyer of its assets to raise funds that would then be used to pay back the creditors.
Voyager Digital confirmed that it would auction its assets on Sept. 13 after the firm halted withdrawals, deposits, and other activities on the platform. As reported by Bitnation in a previous report, Binance and FTX were competing head-to-head in a race of the acquisition of the assets of Voyager Digital and while the former had a lead initially, its then rival firm FTX finally took the lead.
Therefore after FTX.US won the race against Wave Finance and Binance, as the world’s largest exchange’s bid for the U.S.-based Voyager was shut out due to national security concerns. Interestingly, the Changpeng Zhao-led exchange is once again back in the race and has reopened its bid to acquire Voyager Digitals assets.
Last week, FTX former CEO, Bankman-Fried, popularly known as the “white knight” of the crypto space or SBF, annnounced that his exchange was filing for bankruptcy which means that the firm would no longer be able to complete its acquisition of Voyager Digital’s assets. Shortly after, the crypto lending firm announced that it was once again open for potential bids as FTX was no longer oprational as it had more than a million creditors and a situation much worse than Voyager itself.
“Voyager has reopened the bidding process for the company, and is in active discussions with alternative bidders. Voyager and the UCC are moving with all due care and deliberate speed to identify an alternative plan of reorganization consistent with the core objective throughout this process: maximizing the value returned to customers and other creditors,” said Voyager in a recent statement.
The price of the Voyager token (VGX) rose more than 40% according to the data from Bitnation. A major driving force of the VGX price action was Binance potentially acquiring the assets of the bankrupt crypto lending platform.
The US arm of FTX, FTX.US, earlier acquired Voyager Digital’s assets and interestingly, the bid to acquire the assets was valued at around $1.422 billion following a “highly competitive” bidding round which involved Binance, FTX.US, and Wave Financial.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
