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 larger than the competing bid from FTX, the report mentioned.
Each Binance and FTX have been comparatively unscathed by the crypto winter, at the same time as firms like Coinbase International Inc and BlockFi have been pressured to slash their headcount and reduce prices.
Binance, FTX and Voyager didn’t instantly reply to Reuters’ requests for remark.
Crypto lenders corresponding to Voyager boomed through the COVID-19 pandemic, luring depositors with excessive rates of interest and quick access to loans not often provided by conventional banks. However the stoop in crypto markets has harm crypto firms and buyers. In July, Singapore-based crypto hedge fund Three Arrows Capital additionally filed for chapter.
Earlier this yr, 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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