Image default

Binance US Will Bid Again for Voyager Assets

As FTX will not be able to follow through on its commitment to purchase Voyager and its assets, Binance US will return to the table, said Changpeng Zhao.

He also reiterated a previous statement that Binance is not a Chinese company, despite his appearance.

Binance US to Bid on Voyager Again

The cryptocurrency winter that started earlier this year and was significantly intensified by Terra’s collapse resulted in a lot of trouble for multiple industry companies, some of which, including Voyager, had to file for bankruptcy.

Looking for at least a partial solution for its customers, the distressed crypto lender auctioned its assets. The two favorites to win the bid were the two US affiliates of FTX and Binance, and the former’s American branch won it.

Given everything that happened with FTX, Alameda Research, and FTX US, the once SBF-led exchange had to back off the deal. Binance, though, will be resuming its bid for Voyager, according to the company’s CEO – CZ.

After blaming the rumors of Binance US facing security issues on FTX, the exec asserted that his exchange acquired “multiple companies” in the US without any regulatory problems. As such, it plans to “make another bid for Voyager now, given FTX is no longer able to follow through on their commitment.”

Binance will aim to raise $1 billion to be able to purchase assets from Voyager and other struggling crypto firms, CZ added.

Separately, the Binance CEO said once more that the exchange is not a Chinese company and he feels he has to repeat this over and over again “just because I look Chinese.”

FTX Got Too Big

Speaking on the spectacular FTX collapse and Binance’s role in it, CZ said he takes some of the blame as it took too long for him to tweet the statement that pushed the first domino. Recall that Zhao said Binance was planning to dispose of its entire stack of FTT tokens after it became known that Alameda and FTX are overly-exposed to it.

“I think, as an industry, we let FTX get too big before we started to question some of those things.” – CZ noted.


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Source link

Related posts

Goldman Sachs takes latest step into crypto-space with ‘Datonomy’ system

Elaine Watlington

Bitcoin Rebound Is About To Happen, This On-Chain Data Show

Elaine Watlington

stETH sees growth in APR, yet fails to deliver on the price front because…

Elaine Watlington

Ripple vs SEC Update: Ruling on summary judgment will come first, says expert

Elaine Watlington

Bitcoin Adjusted For Inflation Brings Bull Market ROI To Zero

Elaine Watlington

Here are top tips by the crypto community to get through the bear market

Elaine Watlington

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More