Voyager's native token, VGX, saw a sudden rise as its value surges by over 125% within the last 24 hours as rumors of Voyager's buyout begin to circulate.
The rise in VGX's pricing began shortly after Voyager announced the update to the claims process, whereby users will receive emails to allow them to view their account holdings. Voyager reveals that, following its bankruptcy, it has 88 companies seeking to buy its assets, with 22 potential buyers active in the marketing process.
FTX, the crypto exchange responsible for bailing out BlockFi, offered a bid to purchase Voyager's assets last month. FTX's CEO, Sam Bankman-Fried, claimed that the offer was meant to provide early liquidity to Voyager.
Voyager, however, declined the FTX’s offer of an early buyout, citing the bid was "highly misleading."
Binance has also set its sight on Voyager, with Changpeng Zhao, CEO of Binance, claiming that bankrupt platforms Voyager and Celsius approached the firm to sell their to Binance last week.
Voyager is one of the major crypto platforms hit by the bankruptcy of Three Arrows Capital as it filed for Chapter 11 bankruptcy at the beginning of July.
The crypto exchange plans to begin its sales hearing starting September 27, having delayed the deadline for the bidding of its assets from August 26 to September 6. Earlier this month, Voyager released a presentation that states the firm has scheduled its Confirmation Hearing on October 31.
We’re glad you read to this point!
Every week, we publish an email newsletter highlighting all the juicy stories we covered in the crypto space, bringing all the major happenings to your doorstep.
So, if you want to have top stories delivered to your email inbox every week, subscribe to our newsletter!
