Crypto exchanges Binance and FTX have give you the main bids for property of bankrupt crypto lender Voyager Digital, the Wall Avenue Journal reported on Tuesday, citing individuals accustomed to the matter. Binance’s bid is about $50 million, barely increased than the competing bid from FTX, the report mentioned.
Each Binance and FTX have been comparatively unscathed by the crypto winter, whilst corporations like Coinbase World Inc and BlockFi have been compelled to slash their headcount and lower prices.
Binance, FTX and Voyager didn’t instantly reply to Reuters’ requests for remark.
Crypto lenders similar to Voyager boomed through the COVID-19 pandemic, luring depositors with excessive rates of interest and easy accessibility to loans hardly ever provided by conventional banks. However the stoop in crypto markets has damage crypto corporations and buyers. In July, Singapore-based crypto hedge fund Three Arrows Capital additionally filed for chapter.
Earlier this 12 months, Voyager spurned a bailout proposal from Sam Bankman-Fried’s FTX as a “low-ball bid dressed up as a white knight rescue” and alleged the plan would disrupt its chapter course of.
(With insights from Reuters)
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