FTX, Binance, and CrossTower Compete to Buy Voyager Digital Assets

Join Daily Airdrop


Crypto-asset exchanges FTX, Binance and CrossTower are competing to acquire crypto lender Voyager Digital’s assets and save it from bankruptcy. According to details published by former investment banker and angel investor Simon Dixon, the three exchanges are competing in an auction held to acquire Voyager Digital’s assets.

Each of them has proposed their own terms and conditions for making the acquisition.

Details also posted to Reddit show that FTX and Binance have each proposed around $50 million in cash to buy Voyager Digital assets, despite Binance’s higher dollar amount. The remaining cash amount will be used to deal with “other shortages and claims.”

With the plan in action, the two parties propose that existing Voyager customers will receive an even share of their crypto assets and fully transition to the FTX and Binance platforms.

Join Daily Airdrop

On the other hand, CrossTower has proposed keeping the existing Voyager platform and app, meaning existing customers won’t have to switch to the new platform once the deal is finalized.

In addition, under this plan, customers will also receive an equal share of their assets. The proposed CrossTower acquisition will also see them share their revenue with Voyager customers for several years.

Another source also revealed that in the future, it is regulation that can play an important role in determining who wins the auction. This is because the UK Financial Conduct Authority, or FCA, recently warned the FTX for operating without a permit.

Meanwhile, in the United States, the Foreign Investment Committee is also still doubting the decision to allow Binance to acquire Voyager due to national security risks.

Voyager Digital filed for chapter 11 bankruptcy protection in July, joining a growing list of centralized finance companies during a bear market.

At the time, Voyager explained that the filing was part of a reorganization plan that would eventually pave the way for clients to be able to re-access their accounts.

And before you leave, please let us introduce our project “Lego Coin”. Lego is a social meme token, This Coin created in April 2022 aims to Contribute to social movements and creativity around the world through your favorite toys (LEGO). Lego Coin also creates a community that can be useful and beneficial for others such as sharing stories, memes, and sharing knowledge in the creative industry. Lego Coin will also hold events and airdrops that you can take advantage of and enjoy in the near future.

The Lego team is working hard to introduce these Coins to expand the community and hope the Lego Community can make a big impact on people out there. We also hope that readers can understand what we want in the future and spread this news to your friends so that everyone can get benefit from it.

So don’t miss it, follow our social media on your favorite platform that we have provided down below.

”Follow and join our Social Media “


Twitter: @legocoinlive

Global Telegram: @legocommunity

Instagram: @legocoinlive

Discord : Legocoin Community

Facebook : @Legocoin

Source link

Related Articles

Back to top button