Bankrupt Crypto Broker Voyager’s Native Token VGX Skyrockets by Over 125% in 24 Hours Amid Takeover Rumors
Troubled cryptocurrency broker Voyager Digital (VGX)’s native token is surging as rumors of a potential acquisition continue to circulate.
According to a recent company introduceincluding cryptocurrency billionaire Sam Bankman-Fried’s digital asset hedge fund AlamedaFTX, has shown interest in buying Voyager’s assets.
News of a potential acquisition caused VGX to surge from a 24-hour low of $0.328 to $0.743, up 126.52% in just one day. The coin has since retraced, trading at $0.60 at the time of writing.
Voyager said 22 of the 88 companies that might be interested in buying its distressed assets have been actively involved in the marketing process. The company plans to hold a sales hearing on September 7.
Last week, Binance CEO and founder Changpeng Zhao Tell Both Voyager and beleaguered cryptocurrency lender Celsius have approached cryptocurrency exchanges in hopes of discussing selling their assets to the platform, according to The New York Times.
As Zhao said in an interview,
“Our team is participating in all these conversations.”
Last month, cryptocurrency exchange FTX, also led by Bankman-Fried, made an offer to buy Voyager’s assets, but the cryptocurrency broker scolded the Seychelles-based firm, saying its offer was “highly misleading” and “Low bid”. “
In its presentation, Voyager noted that it had received better bids than those offered by AlamedaFTX.
“Voyager has received higher and better bids than AlamedaFTX’s proposal through the marketing process; AlamedaFTX’s tweet, Fox’s interview and press release are all inaccurate.”
Voyager first announced in early July that it was halting all trading, deposits and withdrawals after digital asset hedge fund Three Arrows Capital (3AC) failed to repay loans worth hundreds of millions of dollars. A few weeks later, Voyager filed for bankruptcy.
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