Binance U.S. is considering acquiring Voyager, a liquidated and insolvent crypto lending business.
This new development follows the inability of the FTX exchange to acquire it after its recent collapse.
CZ To Acquire Voyager
Changpeng Zhao, CEO of Binance, said the exchange division in the United States will make a bid for the crypto loan platform Voyager. This new development resulted from the fallen FTX’s inability to carry out its intention to purchase Voyager before it crashed.
Following the bankruptcy, Binance chose to buy the loan platform through its US division.
Since FTX was no longer in operation as a result of the market downturn that led to the liquidation and bankruptcy of its company, CZ declared that it would assume responsibility for acquiring Voyager.
After Voyager filed for bankruptcy, FTX exchange was listed as the top bidder to buy this platform; its CEO, Sam Bankmam Fried, made a bid for the purpose of acquisition.
At the time, Binance exchange was prohibited from taking part in this auction due to U.S. government concerns about national security.
Binance And FTX Rivalry
Zhao discussed this issue and stated that the U.S. government prohibited his offer because of rumors that FTX and its CEO had circulated to the U.S. government in an effort to stop them from bidding for this bankrupt cryptocurrency lending business, Voyager.
Adding that the Binance exchange did not pose any security dangers to the United States prior to the spread of these claims.
Claims have also been made about Binance’s nationality, claiming that it is a Chinese company because Changpeng Zhao was born there. However, CZ has responded to these claims, saying that regardless of his place of origin, he now lives and resides in Canada, officially making him a Canadian citizen.
This battle between FTX and Binance has been going on for a time, and rumors have it that Binance was a big keyplayer in FTX’s demise. However, CZ has come out on several occasions to dispel this idea, indicating that it was not involved in the FTX industry.
In addition, Binance is set to launch a $1 billion crypto recovery fund to help organizations on the verge of liquidation regain their footing.
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