Voyager Digital is one of many crypto companies that went under during the current bear market. The crypto lending platform filed for bankruptcy in July this year. At the end of September it was announced that the now bankrupt FTX had won the auction from Voyager. It would pay more than $1.3 billion for the platform and its assets, and in a way this was a relief for all of Voyager’s victims. However, the bankruptcy of FTX put a spanner in the works: Voyager had to reopen the bidding process.
Binance US, the American branch of the world’s largest crypto exchange, is said to be preparing a bid for the affected crypto lending platform. In addition to Binance, Wave Financial is also planning to make an offer again. Wave Financial missed the boat last time when FTX took off with the highest bid. Trading platform Cross Tower is also reportedly in the running to take over the platform.
Voyager Token
Voyager’s own cryptocurrency, Voyager Token (VGX), experienced a significant increase after it was announced that Binance US will make another bid to acquire the platform. VGX immediately rose by more than 55% to a value of $0.45. The price of VGX has not been this high since October 21.
At the time of writing, the price is in the green by almost 70%, according to data from CoinMarketCap. This brings the price to about $ 0.49.
Binance starts recovery fund
Earlier you could read that Binance is forming a recovery fund to mitigate further negative effects of the fall of FTX. The aim with this is to help projects that are currently in a liquidity crisis after the FTX drama.
Several prominent crypto personalities have already said they want to join the initiative. Names like Justin Sunthe controversial founder of Tron (TRX) and Simon DixonCEO of BankToTheFuture want to support the recovery fund.
