The assets of bankrupt crypto lender Voyager have been on auction for a while and the latest crypto exchange news states that FTX and Binance, two popular crypto trading platforms have placed the highest bids on it.
Latest Crypto Exchange News Update
According to the latest crypto exchange news update, Binance has made a huge bid of about $50 million. Some people stated this bid is somewhat higher than that of FTX. This is an update that crypto enthusiasts would not like to miss out on therefore, we decided to mention its intricacies as soon as possible.
Bankrupt crypto lender Voyager Digital at the time of filing bankruptcy disclosed total assets worth $5 billion and liabilities of $4.9 billion. Moreover, the recent move by FTX and Binance has confirmed the fact that they have survived the crypto winter. In addition, they are a part of some of the crypto industry participants that didn’t succumb to the recent unfavorable market conditions.
The auction for bankrupt crypto lender Voyager started on September 13 and has been going on since then. Other bidders on the stage include Wave Financial, a crypto investment managing company, and CrossTower, another crypto exchange.
Earlier, Voyager Digital filed for bankruptcy prior to Celsius, another crypto lending company, in the month of July this year. This happened sometime after the company froze customer withdrawals which caused dissatisfaction among users. Moreover, later that month there was an update about the U.S. Federal Reserve and Federal Deposit Insurance Corporation (FDIC) ordering the company to not mislead their customers by telling them that they are insured against risks by a government agency.
Recently, there have been numerous negative developments in the sector due to extreme market conditions and the crypto meltdown. Such updates have been detrimental to the ones who believe in the crypto market and have been participating in trading or investment activities in the domain.