The collapse of the Terra blockchain caused the downfall of the hedge fund Three Arrows Capital. The latter’s bankruptcy led to that of cryptocurrency lender Voyager Digital, which then had to file for bankruptcy in July. In September, there was an auction of Voyager assets. The FTX exchange managed to recover them by offering $1.42 billion. But the recent bankruptcy of FTX called into question the transaction with Voyager Digital.
Binance reappears after FTX has been withdrawn from the market
This week, Voyager Digital closed the deal with FTX given the situation. The platform revived talk to find another buyer for his goods. Indeed, she said on Twitter on Nov. 16: “In light of recent events and reports regarding FTX US, the customer’s vote will be voided and the proposed sale will not proceed. We are in active discussions with many other bidders. We will keep you posted on the reorganization efforts“.
That said, aside from FTX, there were several bidders for the takeover of the cryptocurrency lender. Among the latter are two major rivals of the bankrupt exchange: Wave Financial and Binance. According to a Nov. 17 Coindesk article, Binance may re-offer its takeover offer to Voyager Digital.
Sources familiar with the matter have reported that the US branch of the exchange is considering taking the step.
Soon the launch of a fund to revitalize the sector
You should know that Changpeng Zhao, the CEO of Binance, announced that his company intends to propose a new fund. The latter will be specifically dedicated to resurgence of the cryptocurrency industry. CZ said:To reduce the negative cascading effects of FTX, Binance is forming an industry recovery fund to help otherwise strong but cash-strapped projects“.
Meanwhile, Binance head of communications Patrick Hillmann clarified: “Binance isn’t trying to be the “white knight” of cryptocurrencies“. He added : “There is no Luke Skywalker or Darth Vader in the business. It’s a company that has a lot to lose as a market leader“.
Voyager Digital has canceled its deal with bankrupt cryptocurrency exchange FTX to buy back its assets. Now the cryptocurrency lender is talking to other companies. It seems that Binance could be one of them.
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Far from dampening my enthusiasm, a failed investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its many uses and to transmit information related to this ecosystem with my pen.