Crypto exchanges FTX and Binance emerge as top bidders in Voyager’s asset auction

Cryptocurrency exchange FTX and Binance It said The highest bids were made for the assets of bankrupt crypto lender Voyager Digital, at an auction on Tuesday, September 13.

FTX and Binance offer the best offers for Voyager’s assets

Last week, we reported that Voyager Digital’s investment bank, Moelis & Company, has held an auction of crypto lender assets, with crypto exchange FTX emerging as a prime candidate for purchase.

However, recent reports indicate that both Binance and FTX have offered the best bids for Voyager Digital’s assets. The The Wall Street JournalAnd the quote People familiar with the deal reported that Binance’s bid was higher.

According to the source, Binance’s highest bid is valued at around $50 million, which is slightly higher than a rival bid by FTX. The auction winner is expected to be announced at or before Voyager’s next court hearing on September 29.

Binance or FTX? Who is better to win the auction?

Despite reports of Binance spearheading the deal, FTX has been on a buying spree this year, spending more than $1 billion to secure the acquisition of potentially beneficial assets from companies hit hard by the market crash.

However, Sam Bankman-Fried’s FTX has had a rocky relationship with Voyager Digital. In July, the cryptocurrency lender rejected FTX’s offer to take over its assets, calling it a “low ball” offer, potentially turning the history of the exchange with Voyager in Binance’s favor in selling the assets.

The asset auction was conducted as part of the lender’s bankruptcy proceedings, and aims to put Voyager Digital in a better position to pay off its creditors, who have been left waiting for months.

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