FTX Wins Auction For Voyager Digital Assets, Valued Over $1B

Name	Symbol	Market	Market Cap ($)	Algorithm
Celsius	CELUSD	Crypto	78,713,031	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Celsius

CELUSD

Crypto

78,713,031

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.1859	0.12735	0.250

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.1859

0.12735

0.250

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.1859	0.1859	0.1859	0.1859	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.1859

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GATE	12:03:44	7.71	0.1859	USD

Exchange

Last Trade

Size

Trade Price

Currency

GATE

12:03:44

7.71

0.1859

USD

Price x Volume	Volume	Base Symbol	Related Pairs
0.00000000	0.00000000	CEL	CELEUR	CELGBP	CELBTC

Price x Volume

Volume

Base Symbol

Related Pairs

0.00000000

FTX Wins Auction For Voyager Digital Assets, Valued Over $1B

27/09/2022 3:55am

NEWSBTC

Voyager Digital has officially completed it’s auction for acquisition, with powerhouse exchange FTX securing the winning bid, according to emerging reports (and confirmed via press release) in recent hours. Reports in recent weeks had stated that the flagship exchange was in the bidding mix with competitors Binance and CrossTower, with all three supposedly in the final running for Voyager’s assets – and each of which were supposedly offering unique packages in the bidding process. With FTX coming out on top, let’s take a look at what sort of implications can lie from this acquisition moving forward. FTX & Acquisitions FTX has long sought a ‘growth by acquisition’ model with mixed results. The firm is currently in the process of working through an acquisition of CeFi crypto lender BlockFi, which sought to avoid the same fate as competitor Celsius. FTX’s U.S. division is looking to acquire BlockFi, and can now add Voyager Digital to it’s list of new assets to build the FTX rolodex. While the aforementioned Binance and lesser-known exchange CrossTower were reportedly in the mix, it was FTX who came out with the most appetizing bid – despite rumors that Binance’s offer included a large cash sum payment. Rumors had swirled in recent days around the deal’s closing, with commentators suggesting that FTX would shell out $50M in cash in it’s bid, and that the company desired that existing Voyager customers were moved over the FTX platform – where they could claim a pro rata share of the coins the debtors possess from the existing Voyager accounts. It remains to be seen if and how that will play out. According to the press release, FTX’s winning bid is valued at roughly $1.4B. Voyager Digital (VOYG) is traded on OTC market, TSX, and has seen value dilution commensurate with the platform's downfall. | Source: TSX: VOYG on TradingView.com Related Reading: Why Investing In Terra Classic (LUNC) May Be A Bad Idea Where Things Go From Here The closing of the deal will allow FTX to finalize acquisition of Voyager’s assets, but the timeline around these processes is still murky. Voyager can now still move forward with it’s Chapter 11 filing and look to reconcile debtors and former customers to some degree – but certainly not wholly. Nonetheless, FTX will see all of Voyager’s assets and customer accounts moved under their umbrella. The move is likely seen as a win for FTX, who submitted a bid attempt for Voyager Digital back in July with no traction. Related Reading: Binance Coin Could Be Set For A Litmus Test, Eyes $280 Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice. This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.

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