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


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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.


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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.

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