The crypto lending platform Voyager Digital which was looking for potential acquisition options for the company Since September this year and was having a discussion regarding the investment or the acquisition with the FTX platform.
Voyager Digital now is in contact with the crypto company Binance, who had been aspiring to buy out Voyager Digital since September when Voyager Digital was having the conversation for the acquisition deal with the FTX platform before the collapse of the FTX platform.
Who is Binance?
Binance is one of the largest cryptocurrency exchange platforms in the world and has been one of the active crypto company in the US. Recently Binance has unraveled some unethical business practices going at the FTX platform and its sister company Almonda Research.
This unraveling process lead to lead to the fall of the FTX platform and it had to file for bankruptcy last week on Friday and has been going through legal proceedings since then. To overcome this situation in the future, and for the stabilization of the crypto industry, the Binance platform has also announced the introduction of a fund that will help other crypto companies with their temporary monetary crunch.
Who is Voyager Digital?
The blockchain and cryptocurrency landing firm Voyager Digital was founded by Stephen Ehrlich in 2017. The company was on the verge of bankruptcy after the crypto market fell this year in May with the incident of the crash of major cryptocurrency Terra.
The Fall of cryptocurrency Terra has resulted in the crypto market collapse and three arrows Capital, who was also one of the main investors of Voyager Digital. In this manner, the Fall of three arrows Capital led to the failure of Voyager Digital and the company had to file bankruptcy proceedings in July this year.
But the FTX platform announced the acquisition of Voyager Digital in September of this year. Along with FTX the currency company Binance was also aspiring to purchase Voyager Digital but could not succeed due to FTX company’s plans to acquire and complete the purchase agreement with Voyager Digital.
As crypto exchange company FTX has collapsed, now Binance is discussing with Voyager Digital and relaunching its bid to buy the bankrupt company Voyager Digital in the next subsequent months. The authorities of Voyager Digital mentioned that they ended their deal with FTX and they were looking for several alternative bidders for the acquisition process.
This year in September FTX had announced that they will be acquiring Voyager Digital company and all of its subsidiaries with a value proposition of $1.42-billion.
