This Cryptocurrency Exchange Announces It Is Interested In Buying The Assets Of Failing Companies!

Cryptocurrency exchange CrossTower Inc. It is considering further acquisitions beyond its bid for the assets of bankrupt crypto lender Voyager Digital.

Voyager’s Applicants in Cryptocurrency Increase With FTX Hideout

The company’s offer on Voyager, bitcoin exchange came after the collapse of FTX and the disappearance of the original buyer.

CrossTower is among several companies that are reviving or exploring new offerings for Voyager.

According to CoinDesk’s report, a person close to the subject said that asset manager Wave Financial is considering returning to the process after participating in the previous auction, while the US arm of crypto exchange Binance is also interested in the investment, confirmed by company CEO CZ.

FTX won a weeks-long auction to buy Voyager’s assets back in September, but Voyager’s main bankruptcy attorney said the deal would no longer last after FTX filed for Chapter 11 bankruptcy this month.

The sale was valued at approximately $1.4 billion, of which $51 million was expected to be paid in cash by FTX.

CrossTower declined to provide details about its offer or funding partners to Voyager, citing legal requirements regarding the process.

CrossTower is much smaller than its other global peers, with data showing around $21,700 in daily volume, compared to around $1 billion on Coinbase and $67.4 million on Bitstamp.

When asked whether the current environment in cryptocurrencies has changed CrossTower’s risk appetite for acquisitions, CEO Kapil Rathi said the firm’s investors are “wary” as the overall market sentiment has deteriorated.

CrossTower President Kristin Boggiano said the firm and several of its backers are considering setting up their own bailout venture funds, while Rathi said CrossTower is not currently planning to contribute to Binance’s efforts.

*Not investment advice.