🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Binance to relaunch bid to buy bankrupt Voyager Digital - Coindesk

Published 11/17/2022, 04:30 AM
Updated 11/17/2022, 12:45 PM
© Reuters. FILE PHOTO: Representations of cryptocurrencies and Voyager Digital logo are seen in this illustration taken, July 7, 2022. REUTERS/Dado Ruvic/Illustrations/File Photo

(Reuters) -Crypto exchange Binance's U.S. unit is relaunching its bid to buy bankrupt lending platform Voyager Digital, Coindesk reported on Thursday, citing a person familiar with the matter.

The report comes days after crypto exchange FTX, which was set to acquire Voyager's assets after signing a deal in September, filed for bankruptcy following a liquidity crunch.

Voyager ended the deal with FTX this week and said it was in active discussions with several alternate bidders.

The lender had filed for bankruptcy in July, months after the crash of major crypto tokens TerraUSD and Luna that sent shockwaves across the digital asset industry and led to the collapse of hedge fund Three Arrows Capital, to which Voyager was exposed.

FTX then scooped up Voyager's assets in a $1.42-billion bid at an auction in September. Binance was also a major bidder at the auction, the Wall Street Journal had reported previously.

Binance did not immediately respond to a Reuters request for comment. Voyager declined to comment.

© Reuters. FILE PHOTO: Representations of cryptocurrencies and Voyager Digital logo are seen in this illustration taken, July 7, 2022. REUTERS/Dado Ruvic/Illustrations/File Photo

The crypto market is teetering after the collapse of FTX, which is seeking Chapter 11 bankruptcy protection in the United States.

On Wednesday, major crypto player Genesis said it had suspended customer redemptions in its lending business while BlockFi is reportedly preparing to file for bankruptcy.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.