Who Will Buy Voyager: Binance or FTX?

According to a recent report from the Wall Street Journal, cryptocurrency Exchanges FTX and Binance are leading the auction for embattled cryptocurrency lender Voyager.

The auction for Voyager began last week at Kirkland & Ellis’ law offices, but six days have passed and no bid has yet been accepted.

Binance Is A Little Ahead In Purchasing Voyager Assets According To The Wall Street Journal

According to today’s news, Binance has offered around $50 million for the platform’s assets. According to WSJ’s sources, this is a slightly higher bid than FTX’s.

Lawyers in the bankruptcy process have not yet updated the bidding process and simply explained that the process is ongoing.

Bidders can submit offers ranging from a simple purchase of Voyager’s assets to an initiative to restructure and revitalize the firm.

Voyager didn’t elaborate on its ideal offering, but backed out when FTX made public its plan to provide early liquidity to customers, saying the exchange did not respect the confidentiality requirements of the bidding process.

At the time, lawyers called it a low bid and tried to dispel the notion that FTX was a favorite for the platform.

Meanwhile, reports have circulated that Binance is facing some objections over its offer amid concerns that the US government may run into trouble with its attempt to buy the platform.

The winner of the auction is scheduled to be announced at a hearing on September 29.

Twitter Suspends Account Sharing Auction-Related Information

In addition, according to another news that came in at the same time, Twitter appears to have suspended the account affiliated with the committee that represents the interests of creditors and customers in Voyager’s bankruptcy proceedings.

Committee representatives regularly used the account to communicate with clients and other interested parties following the case.

*Not investment advice.