Two of the world’s leading crypto exchanges have reportedly submitted their bids to acquire the assets of embattled crypto lender Voyager Digital.
Citing people familiar with the matter, The Wall Street Journal reports that Binance is willing to pay about $50 million to take over Voyager’s properties, which is slightly higher than what FTX bid for.
Voyager is auctioning the remainder of its assets as part of a restructuring plan after it filed for bankruptcy as a result of the bear market. Its financial woes worsened when crypto hedge fund Three Arrows Capital (3AC), one of its biggest borrowers, defaulted on a $650 million loan.
As Voyager undergoes bankruptcy processes, FTX laid down a proposal in July that would give Voyager customers an option to