Binance tops FTX in Voyager Assets presentation: WSJ Report

Major crypto exchanges Binance and FTX are said to be spearheading a bid to acquire assets from troubled crypto lender Voyager Digital, which filed for bankruptcy in July.

Other recent reports have claimed that Alameda has agreed to provide Voyager with a $200 million crypto loan.

  • according to The Wall Street Journal On Tuesday (September 20, 2022), anonymous sources revealed that Binance led the bid by nearly $50 million, slightly higher than FTX’s bid.
  • Bid procedure I started On September 13, 2022 in New York, which was previously scheduled for August. At the moment, neither Binance nor FTX have accepted the bid, while the outcome of the auction will be announced on September 29, 2022.
  • Meanwhile, on July 22, FTX, in partnership with Alameda Research, offered to buy all of Voyager’s assets and digital asset loans, except for the lender’s loan to Three Arrows Capital (3AC). According to FTX CEO Sam Bankman-Fried at the time, the acquisition would enable Voyager customers to obtain early liquidity and recover some of their assets.
  • In contrast, Voyager bankruptcy lawyers unacceptable The takeover offer stating that the joint offer violated the tender procedures. They also argued that the offer affected the lender’s clients and favored FTX/Alameda.
  • Bankman Fried on shooting With the insolvency representative responding that they wanted to continue draining clients of their money with advisory fees.
  • According to a recent report, encrypted potatoes, Alameda agreed to pay $200 million of cryptocurrency has been borrowed from Voyager, while the quantitative trading firm will receive $160 million given to a crypto lender as collateral.

The Binance Leads FTX post in Voyager Assets Bid: WSJ Report first appeared on CryptoPotato.

Leave a Comment