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.