CrossTower revising its bid to purchase Voyager Digital
After the collapse & bankruptcy filing by FTXus, CrossTower is eyeing to acquire Voyager Digital.
Voyager Digital is a crypto lending platform, which collapsed during the high volatility situation in the crypto market in mid of this year. Voyager’s critical situation came to light after the firm extended a $670 million loan to crypto hedge fund Three Arrows Capital (3AC) in early 2022. When 3AC defaulted on its loan obligations in late June, it unleashed a financial cascade that pushed Voyager into bankruptcy and 3AC’s founders into hiding. But FTXus acquired this platform via a bid won.
After the decision of bankruptcy filing by the FTX, FTXus, Alameda Research together with other affiliated companies, CrossTower started to find a way to acquire Voyager Digital.
A spokesman from CrossTower said that this decision will not only help the customers of Voyager Digital but will enhance the confidence among the crypto community.
“We are working on a revised offer that we feel will benefit the Voyager customers and the wider Crypto community. CrossTower has always been, and will continue to be, very community-focussed,” a CrossTower official said.
However, CrossTower officials didn’t reveal the bid amount to buy Voyager Digital but it is expected that it may acquire at a cost of around $1.5 Billion because FTXus won the Voyager purchase bid at $1.4 Billion in September of this year.
Few reports noted that Binance may show Inclination toward Voyager Digital because initially Binance & CrossTower were two other participants in the Voyager bid.
CrossTower official confirmed that they will not change the platform, in terms of access to the account & also application platform, which means users will not require to go to other platforms instead they will be able to operate on the existing app without any new registration.
Read also: BlockFi admits it has significant exposure to collapsed exchange FTX
