- FTX has won the bid to acquire Voyager Digital for $50 million.
- Binance and CrossTower also expressed their intention to purchase Voyager.
- Voyager is a crypto brokerage firm that became bankrupt as the crypto market suffered huge losses.
Sam Bankman-Fried’s FTX has won the bid to take over Voyager Digital, a crypto brokerage firm that has gone bankrupt after suffering losses due to the crypto winter. According to an article by Bloomberg, FTX acquired the brokerage firm for $50 million.
Read CRYPTONEWSLAND on
google news
The takeover bid could have gotten much higher; however, the article said that this did not happen because Voyager was not able to meet key milestones such as assets under management (AUM).
Former Wall Street Journal (WSJ) writer Liz Hoffman also gave a scoop. According to her, the acquisition amount will be distributed to Voyager users who lost their money, although it “won’t come close to making them whole.”
Last week, crypto exchange giant Binance also submitted a top bid to buy Voyager. Aside from Binance and FTX, US-based crypto exchange CrossTower expressed its intention to acquire Voyager. However, FTX has finally emerged as the winner.
It should be noted also that FTX has expressed its intent to purchase Voyager after the global community caught wind of its troubles.
For those that are uninitiated, Voyager Digital is a cryptocurrency investing firm that suffered huge losses after the market went under. For a time, the company had 3.5 million customers with 1.19 million funded accounts.
However, due to the high volatility of the market, the company suffered bankruptcy as many customers withdrew their money to a point beyond repair.
Recommended News :
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
