Crypto Crash: Traveling Bankruptcy, Would Binance Buy?
Who benefits from crime? – Bankruptcy of crypto lending platforms Travel Digital unfortunately animated the end of this bullish cycle. Built on an unsustainable model without a market in “ Only worse “, Voyager leaves its small carriers on the tile. Even the U.S. Soccer Federation is affected and won’t touch its juiciness sponsorship agreement. Sam Bankman-Fried (PDG FTX) has been particularly active in buying up assets in recent weeks. This time, though, it’s the platform he’s leading Changpeng Zhao who seems to have the upper hand.
Travel – from bankruptcy to redemption
The cryptocurrency firm has filled out the application documents his bankruptcy this summer in the United States. The platform initially suspended the withdrawal as the market turned blood red. It has already been said en masse, it seems that the insolvency of Voyager Digital has been established.
The redemption offers property are expected on September 6. If necessary, an auction will be held on September 29 to decide between potential buyers. According to the distressed company’s document, no less than 22 investors he showed up interested.
Therefore, we learn that FTX, Binance and Coinbase are not the only ones that have positioned themselves on this issue. The FTX exchange has already made a public offer to travel. On the advice of its lawyers, Voyager did so flatly refused. But the crypto exchange would still be up and running.
Coinbase was interested for a while, but eventually called it quits “the math didn’t add up” according to a source close to the company. America’s largest stock exchange would drop its restructuring plan in time for Voyager.
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Binance on pole to win the bet?
In an interview with the New York Times, CZ deftly made a point of no-nonsense, leaving no doubt:
“It is our policy to disclose offers only when they have been completed and we cannot confirm or reject any potential offer. »
Binance CEO they do not deny formally. He also confirmed that teams from Celsius and then Voyager had approached Binance about a potential takeover.
“Our team actively participates in all these conversations. »
Binancewho masterfully managed the last bull cycle, is probably a platform with the strongest kidneys. As true in everyday life as it is in crypto-scripts, one person’s misfortune is another’s fortune.
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