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Binance relaunches bid to buy bankrupt Voyager Digital, claims reports

The Voyager Digital logo and decreasing stock chart can be seen in this illustration, taken on July 7, 2022. REUTERS/Dado Ruvic/Illustrations
Binance is relaunching its bid to buy bankrupt crypto lender Voyager Digital, a report claims. Illustration: Dado Ruvic/Reuters

Binance is relaunching its bid to buy bankrupt crypto lender Voyager Digital, a report claims.

A person familiar with Binance’s plans claimed that the US arm of the exchange, Binance.US, is preparing to bid for bankrupted lending platform Voyager Digital, according to a report from Coindesk.

Bankrupt cryptocurrency exchange FTX won a bid to acquire the company earlier this year, but Voyager said in a tweet on Wednesday that the proposed sale fell through and it is now resuming active talks with several alternative bidders.

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After the crypto crash caused by the collapse of Terra’s USDT/Luna stablecoin project in May 2022, FTX emerged as a “white knight” of the industry.

The now-beleaguered stock market prevailed against all rivals to take over ailing companies that were floundering after the Terra/Luna collapse.

In September, FTX had won Voyager’s assets with a $1.42 billion bid at auction.

At the time, Binance also made a bid to acquire Voyager’s assets, but they were eliminated from the takeover race due to national security concerns.

Binance does not want to be crypto’s new “white knight”, and their chief communications officer Patrick Hillmann stressed to crypto news outlet Coindesk that the motivation is simply business.

Hillmann said, “There are no Luke Skywalkers or Darth Vaders in business.

“This is a company that has the most to lose as an industry leader and is looking around to see where we can help strengthen the industry through a Black Swan event.”

The collapse of FTX, which filed for bankruptcy last week following a liquidity crunch, has affected nearly a million customers and several investors who have suffered billions of dollars in losses.

Blue chips at the top of the cryptocurrency market have appreciated in value over the past week.

Bitcoin (BTC-USD) is up more than 5% over the past seven days to a moderate $16,575 and ethereum (ETH-USD) is up 10% over the past week to $1,198. Dogecoin has seen an almost 15% increase over the past week to USD 0.085.

Watch: US Senator: ‘Digital Assets Will Be As Big As The Internet Itself’ | The Cryptomile

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