Crypto

Binance confirms offer for Voyager assets sold by FTX

Binance CEO Changpeng “CZ” Zhao confirmed that the US arm of the exchange will make a new bid for cryptocurrency lending platform Voyager, which filed for bankruptcy in New York in July.

Voyager’s assets had been sold in September by FTX, which would go bankrupt about two months later in the midst of what is considered the biggest scandal in the crypto world – the company has liabilities estimated at US$ 10 billion and one million creditors .

CoinDesk reported last week that Binance.US would be preparing a bid for Voyager, which Zhao confirmed in an interview with Bloomberg on Thursday (23).

“Binance.US will make another bid for Voyager now as FTX is no longer able to meet that commitment,” he said.

Binance had also tried to compete in the Voyager auction, but was reportedly blocked by US authorities due to alleged national security concerns.

“I think US national security concerns were rumors spread by FTX to try to pull us out of the auction,” Zhao said. “There was never any concern about our participation.”

$1 billion fund

While aiming to sell off Voyager’s assets, Binance is also looking to establish a new fund to rescue struggling crypto projects. In the same interview, Zhao stated that he intends to allocate US$ 1 billion or more.

“If that’s not enough, we can allocate more,” said CZ.

The initiative was announced by the executive last week. The fund, according to him, will serve “to help projects that are strong, but are in a liquidity crisis”.

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