Binance Leads FTX in Voyager Assets Bid: WSJ Report

Major cryptocurrency exchanges Binance and FTX are reportedly leading the acquisition of the assets of troubled cryptocurrency lender Voyager Digital, which filed for bankruptcy in July.

Other recent reports say Alameda has agreed to a $200 million crypto loan to Voyager.

  • according to Wall Street Journal On Tuesday (September 20, 2022), anonymous sources revealed that Binance led the way with around $50 million, slightly ahead of FTX’s bid.
  • Bidding Procedure start September 13, 2022, New York, originally scheduled for August. Currently, neither Binance nor FTX offers are accepted, and the auction results will be announced on September 29, 2022.
  • Meanwhile, on July 22, FTX, in conjunction with Alameda Research, offered to purchase all of Voyager’s assets and digital asset loans, with the exception of the lender’s loan to Three Arrows Capital (3AC). According to then-FTX CEO Sam Bankman-Fried, the acquisition will allow Voyager clients to access early liquidity and recoup some of their assets.
  • However, Voyager’s bankruptcy attorney be rejected Takeover bid, stating that the joint proposal violated the bidding process. They also claim that the offer affected the lender’s customers and benefited FTX/Alameda.
  • Bankman-Fried fight back In their response, bankruptcy attorneys said they wanted to continue draining clients money through advisory fees.
  • According to a recent report encrypted potatoes, Alameda agree to repay Lend $200 million worth of cryptocurrency from Voyager, while the quantitative trading firm will receive $160 million as collateral to cryptocurrency lenders.
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