Binance to relaunch bid to buy bankrupt Voyager Digital

  • Binance US planning to acquire bankrupt crypto lender Voyager.
  • FTX earlier won the assets of Voyager in an auction for $1.42 billion.
  • VGX, increased by up to 50% following the publication of the story.

Binance’s US business is relaunching its offer to purchase insolvent crypto lender Voyager Digital, according to Coindesk. Following the failure of FTX’s proposal to purchase the firm, Voyager called off the acquisition.

Binance did not answer quickly to Reuters’ request for comment. Voyager has refused to comment also.

Reports in September suggest that Binance and FTX were the primary bidders for Voyager’s assets. 

It is important to note that In a previous auction, which ended towards the end of September, the now-defunct FTX emerged as the “white knight,” defeating rivals Wave Financial and Binance. Reports also claimed at the time that Binance’s offer for the US-based Voyager had been rejected owing to national security concerns.

After FTX filed for Chapter 11 bankruptcy protection last week, Voyager stated in a tweet on Wednesday that the company’s intended sale will not go through and that it is in active conversations with numerous other bidders.

The collapse of FTX, which sent bitcoin and other digital assets falling, impacted almost one million users and numerous investors, who faced billions of dollars in damages.

Voyager’s native token, VGX, increased by up to 50% following the publication of CoinDesk’s story; at the time of writing, VGX was up more than 47% at $0.4322. The total liquidity for the token is $142,064 with a trading volume of $92,882.79.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

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