CrossTower is Reportedly Planning to Bid for Voyager Digital Assets

CrossTower is Reportedly Planning to Bid for Voyager Digital Assets

CrossTower plans to keep the Voyager platform and its applications, giving customers a pro-rata share of assets.

CrossTower, a Jersey City-based cryptocurrency trading platform established in 2020, is reportedly looking to bid for Voyager Digital assets.

According to a CrossTower spokesperson, the company is working on formulating a new offer for bankrupt crypto lender Voyager Digital.

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We are working on a revised offer that we feel will benefit the Voyager customers and the wider Crypto community. CrossTower has always been, and will continue to be, very community-focused.

It is worth noting that initially, the auction for Voyager Digital assets was won by FTX. In September, FTX offered around $1.4 billion for Voyager and its assets. However, after on November 11th, FTX filed for Chapter 11 bankruptcy, Voyager announced that the company has reopened its bidding process, looking to “maximize the value returned to customers and other creditors.”

CrossTown spokesperson noted that so far, it has no information about other companies attempting to bid for Voyager and its assets.

We’re not aware of any other interest at the moment, but even if other players enter the ring, CrossTower’s priority is to ensure the best interest of the Voyager customers and the wider crypto community.

It is worth noting that in September, together with FTX, Binance and CrossTower submitted their bids. In the newly revised offer, CrossTower aims to keep the Voyager platform and give its customers a pro-rata share of assets

On November 8th, CrossTower co-founder and CEO Kapil Rathi hinted about the company's plans on Twitter, stating:

CrossTower is monitoring latest developments in the market. We believe in crypto and the crypto community. We are thinking about Voyager creditors and stay committed to supporting the community.

In the announcement about renewing the bidding process for Voyager Digital assets, the company highlighted that it “did not transfer any assets to FTX US in connection with the previously proposed transaction.” In addition, Voyager claims that it has “recalled its loans from Alameda Research for 6,500 BTC and 50,000 ETH”.

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


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