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FTX Beats Binance at Voyager Digital’s Auction at $1.4 Billion Bid for Assets

Voyager released late Monday Eastern Time a press release stating that FTX US's bid was valued at $1.4 billion....
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Voyager released late Monday Eastern Time a press release stating that FTX US’s bid was valued at $1.4 billion.

FTX, the exchange giant, won the bid war to purchase the assets of Voyager Digital. Voyager stated in a press statement on Monday Eastern Time. FTX was bidding against Wave Financial a digital-assets investment firm.

FTX bidded $1.4 Billion for Bankrupt crypto exchange Voyager Digitals assets


Voyager Token, VGX, rose following the announcement. It traded at 76 U.S. Cents as of 04/17 UTC.

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Voyager Digital , a crypto lender, filed for bankruptcy on July. Industry observers have been intensifying their scrutiny of Voyager Digital’s business practices. Especially, how Voyager claimed in marketing materials that deposits of investors were insured by the Federal Deposit Insurance Corporation (FDIC).

FDIC insurance would cover bank-held cash deposits of up to $250,000 but not cash converted into stablecoins. Frances Coppola , wrote that Voyager’s loan books accounted for almost half of the company’s total assets. Nearly 60% of those loans were made to Three Arrows who filed for Chapter 15 bankruptcy in July.

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Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".
Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".

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