Crypto exchanges Binance and FTX have give you the main bids for belongings of bankrupt crypto lender Voyager Digital, the Wall Road Journal reported on Tuesday, citing individuals aware of 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, whilst firms like Coinbase International Inc and BlockFi have been pressured to slash their headcount and minimize prices.
Binance, FTX and Voyager didn’t instantly reply to Reuters’ requests for remark.
Crypto lenders similar to Voyager boomed in the course of the COVID-19 pandemic, luring depositors with excessive rates of interest and easy accessibility to loans not often provided by conventional banks. However the droop in crypto markets has damage crypto firms and traders. 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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