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

The original token for crypto broker Voyager Digital (VGX) is rising as rumors of a possible takeover continue to circulate.

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

The news of the potential purchase of VGX sent it skyrocketing from the 24-hour low of $0.328 to $0.743, a staggering 126.52% gain in one day. The token has since declined 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 their distressed assets, 22 were active in the marketing process. The company plans to hold a hearing on September 7.

Changpang Zhao, CEO and founder of Binance, told the New York Times last week that Voyager and another troubled crypto lender Celsius had approached the crypto exchange with the hope of discussing the sale of 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, which is also a Bankman-Fried-run company, submitted an offer to buy Voyager’s assets, but the cryptocurrency broker criticized the Seychelles-based company, saying its proposal was “too misleading” and a “low bid”. “

In its presentation, Voyager noted that it has already received better offers than those from AlamedaFTX.

“Voyager has already received offers through a market entry process that are better and better than AlamedaFTX’s offer; tweets, Fox interviews, and AlamedaFTX press releases are inaccurate.

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

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