FTX, Binance and CrossTower are competing to buy Voyager Digital assets: Source
FTX and Binance reportedly seek to transition existing Voyager customers to their platforms whereas CrossTower has proposed to keep the existing Voyager platform and app. Cryptocurrency exchanges FTX, Binance and CrossTower are competing to acquire beleaguered crypto lender Voyager Digital’s assets out of bankruptcy, according to insider sources. According to details published by former investment banker and angel investor Simon Dixon, the three exchanges are competing in an auction to acquire Voyager Digital, and have each proposed their own terms and conditions for the acquisition. The....
Related News
Voyager reopened its bidding process after FTX US, the original winner, filed for bankruptcy on Nov. 11. Crypto exchange CrossTower is working on a revised offer for the assets of bankrupt crypto lender Voyager Digital, a spokesperson told Cointelegraph. Voyager announced the reopening of its bidding process after FTX US, the original winner in the bid, filed for bankruptcy in the United States on Nov. 11."We are working on a revised offer that we feel will benefit the Voyager customers and the wider Crypto community. CrossTower has always been, and will continue to be, very....
FTX US was the successful bidder in the Voyager auction. But, one industry insider tells Cointelegraph that the deal didn't have depositors' best interest in mind. Voyager Digital filed for Chapter 11 bankruptcy in July after its exposure to the toxic Three Arrows Capital led to its ultimate downfall. This week, rumblings of a Voyager Digital auction surfaced, with Cointelegraph breaking the story on the afternoon of Sept. 26 after a reputable source confirmed the parties involved. A few hours later, a winner was announced — crypto exchange FTX US. But, not everyone is convinced that....
Voyager Digital has officially completed it’s auction for acquisition, with powerhouse exchange FTX securing the winning bid, according to emerging reports (and confirmed via press release) in recent hours. Reports in recent weeks had stated that the flagship exchange was in the bidding mix with competitors Binance and CrossTower, with all three supposedly in the final running for Voyager’s assets – and each of which were supposedly offering unique packages in the bidding process. With FTX coming out on top, let’s take a look at what sort of implications can lie....
Voyager hints that its customers will eventually transition to the FTX platform after it finishes its chapter 11 bankruptcy proceedings. Cryptocurrency exchange FTX US has secured the winning bid for the assets of crypto brokerage firm Voyager Digital with a bid valued at approximately $1.4 billion according to Voyager.Voyager said the bid was made up of the fair market value of its crypto holdings “at a to-be-determined date in the future” estimated to be around $1.3 billion along with $111 million of what it says is “incremental value,” but did not provide further details.Little....
In a recent report, FTX sent 50,000 Ethereum worth about $65 million to Voyager Digital’s main wallet. The CEO of Nansen, a blockchain analytics firm, Alex Svanevik, confirmed the transaction in a tweet. Due to the crypto winter, some crypto firms struggled with insolvency. This bearish market even pushed some crypto companies off the industry. Some companies even massively slashed their staff strength, while others stopped operations. Coinbase is amongst the firms that dropped 20% of its employees due to liquidity issues. But among the companies that later halted operations is....