Crypto: Voyager Digital set to raise $270 million

The crash of the Terra blockchain caused the fall of the hedge fund Three Arrows Capital. The bankruptcy of the latter led to that of the crypto lender Voyager Digital, which then had to file for bankruptcy in July. In September, there was an auction of Voyager’s assets. The exchange FTX managed to recover these by offering 1.42 billion dollars. But the recent bankruptcy of FTX has called into question the transaction with Voyager Digital.

Binance reappears after FTX was taken out of business

This week, Voyager Digital terminated the deal with FTX, given the situation. The platform revived talks to find another buyer for its assets. Indeed, she said on Twitter on November 16: “In light of recent events and reports regarding FTX US, the customer vote will be voided and the proposed sale will not proceed. We are in active discussion with several other bidders. We will keep you informed of the reorganization efforts“.

That said, apart from FTX, there were several bidders for the takeover of the crypto lender. Among the latter are two major rivals of the bankrupt exchange: Wave Financial and Binance. According an article from Coindesk this November 17, Binance may offer its takeover offer to Voyager Digital again.

A tweet in which Voyager addresses members of the community

Sources familiar with the matter reported that the US branch of the exchange is considering taking this step.

Soon the launch of a fund to revive the industry

You should know that Changpeng Zhao, the CEO of Binance, announced that his company intends to propose a new fund. The latter will be specifically dedicated to the revival of the cryptocurrency industry. CZ said:To reduce the negative cascading effects of FTX, Binance is forming an industry recovery fund, to help projects that are otherwise strong but in a liquidity crunch“.

A recovery fund designed by Binance

Meanwhile, Binance Head of Communications, Patrick Hillmann, clarified, “Binance isn’t looking to be the ‘white knight’ of crypto“. He added : “There is no Luke Skywalker or Darth Vader in the business. It’s a company with the most to lose as a market leader“.

Voyager Digital has canceled the deal with bankrupt crypto exchange FTX which was to buy back its assets. Now the crypto lender is talking to other companies. It appears that Binance could be one of them.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential Tremplin.io!

Similar Posts