Crypto exchanges FTX and Binance have made the leading bids for the assets of bankrupt crypto-lender Voyager Digital Ltd., but neither bid has been accepted yet, the Wall Street Journal reported. The current bid from Binance is about $50 million, slightly higher than the competing bid from FTX. Voyager, founded in 2019, operated a crypto lending platform that took in customer deposits, paid them interest and lent out the assets to other parties. It went public via a reverse merger in 2019. At the stock’s peak in 2021, the company’s market capitalization was $3.9 billion. At the time of its bankruptcy filing in July 2022, Voyager said it had total assets of $5 billion and total liabilities of $4.9 billion. FTX and Binance have emerged among the few winners in the crypto meltdown. Both have managed to increase their share of the trading market. FTX, owned by Sam Bankman-Fried, has been aggressively acquiring distressed assets during the downturn.
