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Voyager Token Soars 70% As Binance US Bid Purchase The Crypto Lender

Thursday saw a rise in the value of Voyager Digital’s native coin, VGX, following news that Binance US has restarted its acquisition bid for the collapsed crypto lending marketplace.

The offer by Binance US to acquire the insolvent cryptocurrency lender Voyager Digital is about to resume. After FTX filed for Chapter 11 bankruptcy last week, Voyager canceled FTX’s offer to buy the business.

VGX price skyrocketed over 70% in just a few hours after it was confirmed that Binance US would resubmit the bid. As per Coincu, the VGX token is trading at $0.472, with trading volume jumping over 1000%.

VGX daily chart. Source: Coincu

Voyager stated that after selling its assets for $1.42 billion, it did not transfer any assets to FTX US. Additionally, the business has $3 million in secured LUNA and locked SRM at FTX.

With over 100,000 creditors and between $1 billion and $10 billion in assets and liabilities, the company filed for Chapter 11 bankruptcy protection in the first few days of July.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.