According to the leaked information, Binance is preparing to submit a purchase offer for Voyager Digital, which is currently bankrupt. Here are the details of the allegations…
Claim: Binance can buy Voyager
Binance.US, the US arm of the world’s largest cryptocurrency exchange Binance, is preparing to bid for bankrupt lending platform Voyager Digital, according to an anonymous person. cryptocoin.com As we have also reported, the previous auction, FTX, which was completed at the end of last September; won the auction, ahead of its rivals Wave Financial and Binance. At the time, Binance’s bid for US-based Voyager was rejected due to national security concerns.
After FTX announced last week that it would file for bankruptcy, Voyager said it has restarted the bidding process for the company. He said he was in active talks with bidders beforehand. Wave Financial and trading platform Cross Tower are reportedly in operation.
Complex issues are on the table for Voyager
Thomas Braziel, managing partner at investment firm 507 Capital, said the fact that Voyager will be suing FTX for breach of contract complicates matters. “The problem is that the claim will only be against FTX US,” Braziel said in an interview and used the following statements:
I’m worried that most of the collateral will be held in trust. So the reason for any of their actions can cause them to get behind all the customers. The question is, what’s the value of your unsecured claim if the customers aren’t going to become whole?
Binance announced its recovery fund – Genesis purchase also on the agenda
Earlier this week, Binance CEO Changpeng “CZ” Zhao said that his exchange has set up an industry recovery fund to help rebuild the industry. “Binance doesn’t look like the ‘white knight’ of cryptocurrency,” said Patrick Hillmann, Binance communications chief. He also used the following phrases:
There are no Luke Skywalkers or Darth Vaders in business. We are a company that has a lot to lose as a market leader. We are looking around to see how we can help support the industry through a black swan event.
Meanwhile, allegations emerged that the founder of Binance began researching Genesis. Allegedly, Changpeng Zhao is considering a possible bid for Genesis’ loan assets. According to Genesis’ Q3 2022 report, there is $2.8 billion in active loans on the platform. As it turns out, Genesis is going through a tough time due to FTX exposure.
VGX has risen in value
With the emergence of the allegations, Voyager’s token VGX became one of the coins that gained the most value in the last 24 hours with an increase of 50 percent.
