Binance and FTX Make Top Bids for Bankrupt Lender Voyager: Report

The crypto experts claim that FTX and Binance have offered the highest bids for the assets of defunct crypto-lender Voyager Digital Ltd., but neither request has yet been approved. The current offer from Binance is reportedly roughly $50 million, which is marginally more than the rival offer from FTX. Voyager Filed Bankruptcy in July 2022 Voyager, a company created in 2019, had a platform for lending out cryptocurrency that accepted deposits from customers, gave them interest, and then leased the assets to other people. In 2019, it went public through a reverse merger. The company’s market value was $3.9 billion at the height of the stock in 2021. Voyager claimed to have $4.9 billion in liabilities and $5 billion in total assets at its bankruptcy filing in July 2022. Voyager, which trades in Toronto and has its headquarters in New York, filed for bankruptcy in July after a flood of withdrawal demands caused by the bitcoin selloff depleted the company’s cash reserves. At the time of the filing, the value of its stock had decreased by more than 95% from 2022. Winning Bid to be Announced on September 29 Among the few beneficiaries of the crypto collapse are FTX and Binance. Both have succeeded in growing their trading market share. Sam Bankman-company, Fried’s FTX, has actively bought distressed assets during the recession. The winning bid will be revealed at a hearing in New York on September 29, but it may happen sooner. In a c...