Binance to relaunch bid to buy bankrupt Voyager Digital: Report - Hindustan Times
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Binance to relaunch bid to buy bankrupt Voyager Digital: Report

Reuters | | Posted by Singh Rahul Sunilkumar
Nov 17, 2022 07:41 PM IST

Crypto exchange FTX, which was set to acquire Voyager's assets after signing a deal in September, filed for bankruptcy following a liquidity crunch.

Crypto exchange Binance's U.S. unit is relaunching its bid to buy bankrupt lending platform Voyager Digital, Coindesk reported on Thursday, citing a person familiar with the matter.

Binance logo and stock graph are displayed.(REUTERS)
Binance logo and stock graph are displayed.(REUTERS)

The report comes days after crypto exchange FTX, which was set to acquire Voyager's assets after signing a deal in September, filed for bankruptcy following a liquidity crunch.

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Voyager ended the deal with FTX this week and said it was in active discussions with several alternate bidders.

The lender had filed for bankruptcy in July, months after the crash of major crypto tokens TerraUSD and Luna that sent shockwaves across the digital asset industry and led to the collapse of hedge fund Three Arrows Capital, to which Voyager was exposed.

ALSO READ: 'Isolated...': Assets platform Binance on $100 million cryptocurrency scam

FTX then scooped up Voyager's assets in a $1.42-billion bid at an auction in September. Binance was also a major bidder at the auction, the Wall Street Journal had reported previously.

Binance did not immediately respond to a Reuters request for comment. Voyager declined to comment.

The crypto market is teetering after the collapse of FTX, which is seeking Chapter 11 bankruptcy protection in the United States.

On Wednesday, major crypto player Genesis said it had suspended customer redemptions in its lending business while BlockFi is reportedly preparing to file for bankruptcy.

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