According to a report from The Wall Street Journal, Binance and FTX are locked in a bidding war for Voyager's assets. Binance has apparently offered around $50 million, which is slightly more than FTX.
But the story doesn't end there, since FTX did make an offer to buy the bankrupt lender earlier this summer.
Does this prove that both FTX and Binance have been able to successfully avoid the worst of crypto winter?
Full Transcript Below:
ROSS MAC: Looks like FTX and Binance are in a bidding war for Voyager’s assets, which went bankrupt earlier this summer. Binance's bid is around $50 million, which--according to a report from the Wall Street Journal--is slightly higher than the competing bid from FTX. The asset auction began back on Sept. 13 and the winning bid is expected to be announced around September 29. What’s interesting is that FTX tried to make a bid back in July but Voyager frowned at the amount by calling it a “low ball bid.” So I wonder as time has passed, are these new bids higher or lower…We all know that Binance and FTX have managed the crypto winter better than most like Celcius, Crypto.com, Coinbase and even Gemini. FTX has looked to use crypto winter as a buying opportunity, snapping up companies like Liquid Group while Binance has embarked on a hiring spree. But with crypto winter still impacting the larger industry, only time will tell who are the true winners…what are your thoughts?
I'm Ross Mac and that was the Crypto Minute on TheStreet.