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The Prospective Acquisition
As speculations of a prospective acquisition persist, Voyager Digital’s native token is rising, putting pressure on the troubled crypto broker. According to a recent corporate presentation, many businesses, including AlamedaFTX, the cryptocurrency millionaire Sam Bankman-hedge Fried’s fund for digital assets, have expressed interest in buying Voyager’s assets.
After hearing about a prospective acquisition, VGX soared from a 24-hour low of 0.328 USD to 0.743 USD, a stunning gain of 126.52% in only one day. Since then, the coin has reversed course and is currently trading at 0.60 USD. According to Voyager, 22 of the 88 firms that could be interested in purchasing its troubled assets have participated in the marketing process. On September 7th, the business intends to have its sales hearing.
The Statement by Voyager
Voyager and fellow ailing crypto lender Celsius approached the crypto exchange this week in an effort to negotiate to sell their assets to the platform, according to various sources. Changpang Zhao said in an interview that their team is participating in every one of those discussions. Last month, Bankman-Fried-founded cryptocurrency exchange FTX made an offer to buy Voyager’s assets. However, the crypto broker criticized the Seychelles-based business, calling its offer very deceptive and a low-ball price.
Voyager states in its presentation that it has already received higher offers than those made by AlamedaFTX. It also states that AlamedaFTX’s tweets, Fox interviews, and news releases are incorrect. Through the marketing process, Voyager has already received offers that are superior to AlamedaFTX’s proposal. Early in July, Voyager announced a suspension of all transactions when digital asset hedge fund Three Arrows Capital (3AC) defaulted on debt amounting to hundreds of millions of dollars. Voyager submitted a bankruptcy petition a few weeks later.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
