Voyager Digital’s native coin voyager (VGX) surged Thursday after CoinDesk reported that leading digital assets exchange Binance’s U.S. arm is relaunching a bid to purchase the bankrupt crypto lending platform.
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VGX jumped more than 55% to $0.45, the highest level since Oct. 21, according to CoinDesk data.
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The token is still down 85% this year.
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Voyager’s previous sale, completed in September, saw FTX beat out Binance and Wave Financial.
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U.S.-based Voyager reopened the bidding process after Sam Bankman-Fried’s crypto exchange FTX collapsed last week.
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Voyager filed for Chapter 11 bankruptcy protection in early July, citing more than 100,000 creditors and between $1 billion and $10 billion in assets and liabilities.
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Many crypto lenders, which had doled out large loans to the now-defunct hedge fund Three Arrows Capital, have suspended withdrawals and filed for bankruptcy in the past three months.
