HomeBusinessBinance To Relaunch Bid To Buy Bankrupt Voyager Digital: Report

Binance To Relaunch Bid To Buy Bankrupt Voyager Digital: Report

Binance To Relaunch Bid To Buy Bankrupt Voyager Digital: Report

The crypto market is teetering after the collapse of FTX, which is seeking bankruptcy protection.

Crypto exchange Binance’s U.S. unit is relaunching its bid to buy bankrupt lending platform Voyager Digital, Coindesk reported on Thursday, citing a person familiar with the matter.

The report comes days after crypto exchange FTX, which was set to acquire Voyager’s assets after signing a deal in September, filed for bankruptcy following a liquidity crunch.

Voyager ended the deal with FTX this week and said it was in active discussions with several alternate bidders.

The lender had filed for bankruptcy in July, months after the crash of major crypto tokens TerraUSD and Luna that sent shockwaves across the digital asset industry and led to the collapse of hedge fund Three Arrows Capital, to which Voyager was exposed.

FTX then scooped up Voyager’s assets in a $1.42-billion bid at an auction in September. Binance was also a major bidder at the auction, the Wall Street Journal had reported previously.

Binance did not immediately respond to a Reuters request for comment. Voyager declined to comment.

The crypto market is teetering after the collapse of FTX, which is seeking Chapter 11 bankruptcy protection in the United States.

On Wednesday, major crypto player Genesis said it had suspended customer redemptions in its lending business while BlockFi is reportedly preparing to file for bankruptcy.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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