Binance, FTX And Many Big Companies Trying To Acquire Voyager’s Assets

The crypto lending company is gradually completing its bankruptcy proceedings. Currently, Binance, FTX is also one of the big companies trying to buy Voyager’s digital assets.

According to Coindesk, Voyager Digital, the bankrupt lender that exacerbated this year’s crypto market meltdown, is attracting takeover interest from some of the biggest players in the space including Binance and FTX, Coinbase evaluated a deal but withdrew it, one person said.

According to an announcement from Voyager, the bid for Voyager’s property is due on September 6 in a sale that takes place through its bankruptcy case. According to CoinMarketCap, an auction, if needed to select a winner, will take place on September 29.

According to a presentation from the company’s lawyers earlier this month, at least 22 investors had gone through due diligence and indicated their interest in bidding for Voyager’s assets, so Binance, FTX and Coinbase are likely not the only suitors.

“We have a policy to only disclose deals after they are complete and cannot confirm or deny any potential deals,”

A Binance spokesperson said

In an interview with the New York Times published last week, Binance CEO Changpeng Zhao said Voyager – as well as Celsius Network, another crypto lender in bankruptcy – had approached his company to discuss selling assets. “Our team’s engaging in all of those conversations,” he said in the interview.

FTX, which publicly made an offer last month that Voyager’s lawyers rejected, is still ongoing, according to a person with direct knowledge of the crypto exchange’s plans.

Coinbase, the largest U.S. crypto exchange, evaluated a possible restructuring plan for Voyager but backed out after concluding “the financials don’t add up,” according to a person with direct knowledge of the company’s thinking.

Voyager’s demise was one of this year’s major crypto crises. Plunging cryptocurrency prices spooked customers of lenders like Voyager, sending a bank racing as too many customers at once tried to withdraw their funds. Voyager halted withdrawals and subsequently filed for bankruptcy.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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