Binance Reportedly To Resubmit Bid to Acquire Voyager Digital

Binance Reportedly To Resubmit Bid to Acquire Voyager Digital
  • The court granted preliminary clearance for the sale of Voyager Digital’s assets to FTX.
  • Although the deal could not be completed due to the fall of FTX.

Binance U.S is going to resubmit a bid.  After FTX filed for Chapter 11 bankruptcy, the agreement with Voyager fell through. Voyager’s exposure to FTX was $3 million as well.

It has been reported that Binance U.S, will recommence its offer to acquire defunct cryptocurrency lender Voyager Digital. As a result of FTX’s Chapter 11 bankruptcy filing last week, Voyager cancelled the latter’s offer to purchase the firm.

Voyager said that in spite of selling its assets to FTX US for $1.42 billion, no assets were transferred to the latter. More importantly, Voyager has a total of $3 million in locked LUNA2 and locked SRM at FTX.

Reviving the Sector

Moreover, Patrick Hillmann, head of communications at Binance, has said that the company takes seriously its role as a market leader and the duty that comes with it, which is to help revive the cryptocurrency sector.

Furthermore, the court granted preliminary clearance for the sale of Voyager Digital’s assets to FTX last month. Most Voyager customers could have switched to FTX if the company’s creditors had given their consent. As a result, 72 percent of clients’ crypto holdings would be recoverable if bankruptcy was filed.

Following the news that Binance.US would resubmit the offer, the price of Voyager Token (VGX) soared by more than 50% in a matter of hours. CoinMarketCap reports that one VGX token is presently worth $0.433, with trading volume increased by almost a factor of ten. Within a day, the low was $0.28 and the high was $0.44.

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