Crypto Trading Platform INX Submits Bid To Acquire Voyager Assets

Crypto Trading Platform INX Submits Bid To Acquire Voyager Assets
  • In July, Voyager Digital declared bankruptcy owing between $1 and $10 billion to creditors.
  • INX is a FINRA and SEC-authorized broker-dealer and operates as a crypto trading platform.

Similar to Binance, INX has submitted a non-binding letter of intent to purchase troubled assets from defunct asset management Voyager Digital.

INX CEO Shy Datika stated in a press release:

“We believe that INX can offer the right combination of credibility, technology, and unique regulatory positioning to protect Voyager customers and creditor interests—giving them the stability they are looking for.” 

Multiple Firms Eyeing Acquiring Assets

It was not disclosed in the statement how much INX had offered to pay to purchase Voyager’s troubled assets, but it was stated that INX is a FINRA and SEC-authorized broker-dealer and operates as a crypto trading platform with money transmitter licenses in 43 states in the United States. According to sources acquainted with the situation, Wave Financial and CrossTower have also indicated interest. Not to forget Binance.

INX Deputy CEO Itai Avneri stated:

“Voyager has a good technology stack, impressive user base and strong devoted community. We will invite them all to join the INX fast-growing community and will rebuild trust with them.”

He also said that the business was doing due diligence in preparation for making a legally binding bid to purchase Voyager’s assets.

In July, Voyager Digital declared bankruptcy owing between $1 billion and $10 billion to more than 100,000 creditors. The cryptocurrency asset management disclosed a $661 million exposure to the collapsed hedge fund Three Arrows Capital in June.

FTX US submitted the September proposal that ultimately won the acquisition of Voyager’s assets, for $1.4 billion. The cryptocurrency exchange, along with more than 130 other firms, filed for Chapter 11 bankruptcy on November 11, rendering the purchase null and void.

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An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.