Voyager Token (VGX), the native token of troubled cryptocurrency company Voyager Digital, surged more than 50% as news of Binance.US intention's to resubmit a bid spread. Deal between Voyager and cryptocurrency exchange FTX fell through after FTX filed for Chapter 11 bankruptcy. Additionally, Voyager had $3 million in exposure to FTX.
Voyager Will be Taken Over by Binance US
The US division of Binance is set to revive its offer to acquire the insolvent cryptocurrency lender Voyager Digital. After FTX filed for Chapter 11 bankruptcy last week, Voyager canceled FTX's offer to buy the business.
Voyager stated that after selling its assets for $1.42 billion, it did not transfer any assets to FTX US. Additionally, Voyager has $3 million at FTX in the form of locked SRM and LUNA2.
According to Patrick Hillmann, chief communications officer of Binance, the company is a market leader and has a duty to revive the cryptocurrency sector.
In the meantime, Binance CEO "CZ" unveiled a fund to aid businesses in recovering from the liquidity crisis brought on by the demise of FTX. Additionally, he stated that the fund's specifics would be made public within the following two weeks. The cryptocurrency exchange OKX has also revealed a related fund.
Voyager Token (VGX) Rises More Than 50%
After it was revealed that Binance.US will resubmit the bid, the price of Voyager Token (VGX) soared by more than 50% in just a few hours. The VGX token is presently trading at $0.42 on CoinMarketCap, with a nearly 1000% increase in trading volume. The 24-hour high and low are, respectively, $0.44 and $0.28.
Additionally, some believe that Binance has taken down the danger warning in relation to the VGX token on the cryptocurrency exchange. There were already whispers circulating that Binance would resubmit its offer to buy Voyager assets.
