The major cryptocurrency exchange FTX is now known for lend a helping hand to battered crypto companies. By buying up all or part of these companies in need, they can continue their activities and fewer crypto investors fall victim to painful bankruptcies. This week, FTX also appeared to have a good chance of acquiring Voyager Digital.
FTX wants to take over Voyager
Voyager is a crypto lending platform where one can borrow and lend crypto and earn a return on it. Things hit hard when the major crypto hedge fund Three Arrows Capital was unable to repay its huge bitcoin loan to Voyager.
As a result, Voyager, like relatively many crypto companies in this dark period, had to file for bankruptcy. FTX immediately came to the rescue of the platform by placing a bid. However, this would later be rejected.
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However, the rejection of the offer did not stop FTX from making an attempt to take over the platform. FTX CEO Sam Bankman-Fried has previously shared how and why it is trying to help the crypto industry survive.
Since then, several parties have been in the race to take over Voyager. Sources report to crypto news website CoinDesk that FTX is currently the highest offer has stood. However, the other party, Wave Financial, may still make a higher bid in the coming days. It is not known how high those current bids are.
Voyager FTX acquisition is good for crypto investors
Ultimately, it is a positive development for crypto investors who are at risk of losing money due to the bankruptcy of Voyager that the exchange has the highest offer. This means that they still get the chance to get at least part of their investment back.
Do you want to stay informed of all the FTX news, or do you have questions about the platform in general? Then take a look at the official Dutch FTX channel on Telegram!
A good example of such an acquisition was the Japanese exchange Liquid Global. That trading platform was hacked in 2021 and FTX came to the rescue. This year, the exchange was rebranded as FTX Japan.
