Coin Gabbar Token

<h2 id="header-0">As per the most recent reports, the two largest exchanges, Binance and FTX, are currently competing to acquire the assets of bankrupt crypto lender Voyager Digital.</h2>Earlier this year in July 2022, Voyager filed for Chapter 11 bankruptcy after experiencing substantial liquidity challenges as a result of the <a href="https://www.coingabbar.com/en/crypto-blogs-english/the-crypto-bloodbath-and-the-factors-that-caused-it" rel="noopener noreferrer nofollow">crypto market slump</a>. The company&#39;s total liabilities were $4.9 billion at the time.<a href="https://www.coingabbar.com/en/crypto-currency-news-english/voyager-digital-files-for-chapter-seeks-to-maximize-value-for-all-stakeholders" rel="noopener noreferrer nofollow">Voyager Digital</a> was founded in 2019 as a crypto lending platform that accepted user deposits, paid interest, and leased assets to other parties.According to those familiar with the matter, FTX and Binance have been competing to acquire Voyager&#39;s assets. However, Binance&#39;s proposal is currently $50 million higher than FTX&#39;s. As we all know, FTX has been on a buying spree this year in order to acquire potentially valuable assets, but it is still distressed as a result of the market downturn.The auction of Voyager Digital assets began on September 13 of this month. Although FTX and Binance have been the market leaders, other participants include trading platform CrossTower and crypto investment manager Wave Financial.The winning bid will be revealed during a hearing next week on September 29; however, the news might come even sooner.Voyager Digital Distressed AssetsAs previously reported, Voyager Digital filed for bankruptcy in July because of high withdrawal requests and liquidity concerns on the platform. The exposure of Voyager to troubled hedge fund <a href="https://www.coingabbar.com/en/crypto-currency-news-english/crypto-hedge-fund-three-arrows-submits-a-chapter-bankruptcy-petition" rel="noopener noreferrer nofollow">Three Arrows Capital</a> was more than $650 million, which triggered the major trouble.At the time of the bankruptcy, Alameda Research, owned by FTX CEO Sam Bankman-Fried, had borrowed $377 million from Voyager. However, as per the July filing, Voyager Digital sold a stake in the company to Alameda Research. In June, Alameda owned a 9.5% equity stake in Voyager.Earlier this week on Monday, Alameda said that it is ready to pay $200 million for a loan purchased in <a href="https://www.coingabbar.com/en/cryptocurrency" rel="noopener noreferrer nofollow">cryptocurrency</a> in return for $160 million in collateral.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/possible-causes-recent-raise-xrp-prices" rel="noopener noreferrer nofollow">Possible Causes of the Recent Raise in XRP Prices</a>

Binance And FTX In Race For Acquiring Voyager Digital

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