Binance.US Wants to Acquire Bankrupt Voyager Digital

In September 2022, Sam Bankman-Fried’s (SBF’s) crypto exchange FTX won an auction to purchase Voyager Ditial’s assets at around $50 million. However, before the deal was finalized, the exchange collapsed, and the crypto lender was still available for purchase.

Reports from last week revealed that Binance.US, the American arm of leading cryptocurrency exchange Binance, was once again preparing a bid for the assets of the bankrupt lending platform. The information was confirmed during Bloomberg’s interview with CZ on Thursday.

“Binance.US will make another bid for Voyager now, given FTX is no longer able to follow through on that commitment,” CZ said.

An earlier purchase proposal by Binance was rejected over alleged concerns that the takeover could pose a national security threat to the US government. According to CZ, rumors might have been spread by the FTX exchange to exclude competitors from bidding.

The CEO of Binance once again dodged the allegations that his exchange is a Chinese company.

“Binance is not a Chinese company. We are not related to China at all. The company is mistakenly believed to be Chinese because I look Chinese,” CZ added. As Zhao reminded us a few months ago, he is a citizen of Canada.

“Binance is not a Chinese company, we are not related to China at all.”

CEO Changpeng “CZ” Zhao (@cz_binance), who is considering a bid for assets of bankrupt crypto firm Voyager, said on @BloombergTV his company is mistakenly believed to be Chinese “because I look Chinese” pic.twitter.com/Wqos9XTeW5

— Bloomberg Crypto (@crypto) November 24, 2022

Binance Benefited from FTX Collapse

The collapse of FTX not only allowed Binance to return to its attempt to acquire Voyager Digital but also improved the platform’s market share. According to the recent report by CoinGecko, Binance’s market share increased by seven percentage points after the FTX crisis to 64%.

The same report shows that the collapse of the SBF cryptocurrency exchange
Exchange

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
Read this Term hit south Korean, Singaporean and Japanese markets the hardest. These countries together accounted for more than 15% of global traffic to the FTX.com website on a monthly basis.