Bankrupt Crypto Broker Voyager’s Native Token VGX Soars Over 125% In 24 Hours Amid Takeover Rumors

The native token of embattled crypto broker Voyager Digital (VGX) is surging as rumors of a potential takeover continue to swirl.

According to a recent company presentation, numerous companies, including AlamedaFTX, the digital asset hedge fund of cryptobillionaire Sam Bankman-Fried, have expressed interest in buying Voyager’s assets.

News of a potential buyout sent VGX skyrocketing from a 24-hour low of $0.328 to $0.743, a staggering gain of 126.52% in a single day. The token has since retreated and is trading at $0.60 at the time of writing.

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Voyager says that of the 88 companies potentially interested in buying its troubled assets, 22 have been active in the commercialization process. The company plans to hold its sales hearing on September 7.

Binance CEO and founder Changpang Zhao told the New York Times last week that Voyager and another struggling crypto lender Celsius had approached the crypto exchange hoping to discuss selling their assets. to the platform.

As Zhao said in an interview,

“Our team is involved in all of these conversations.”

Last month, crypto exchange FTX, also a company run by Bankman-Fried, made an offer to buy Voyager’s assets, but the crypto broker chastised the Seychelles-based company saying its proposal was “very misleading” and a “low offer”. ”

In its presentation, Voyager notes that it has already received better offers than those offered by AlamedaFTX.

“Voyager has already received offers through the go-to-market process that are superior and better than AlamedaFTX’s proposal; Tweets, Fox interview and AlamedaFTX press releases are inaccurate.

Voyager first announced a halt to all transactions, deposits and withdrawals in early July after digital asset hedge fund Three Arrows Capital (3AC) failed to repay a loan worth hundreds of millions of dollars. A few weeks later, Voyager filed for bankruptcy.

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Bankrupt Crypto Broker Voyager’s Native Token VGX Soars Over 125% In 24 Hours Amid Takeover Rumors


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