Binance US to renew bid to acquire Voyager

Binance CEO Changpeng ‘CZ’ Zhao has confirmed that Binance US will make a new bid to acquire the assets of crypto lender Voyager.

Collapsed crypto exchange FTX won the bid to acquire the crypto lender in September but it will be unable to follow through with the deal.

CZ confirmed in front of Bloomberg the latest roomers that Binance’s US arm is preparing to make another bid for the assets of the bankrupt lending platform.

CZ said:

Binance.US will make another bid for Voyager now, given FTX is no longer able to follow through on that commitment.

Binance

Binance’s initial bid for acquisition was rejected and rumors surfaced that the reason for the rejection was alleged concerns of national security threats to the US government. In his interview with Bloomberg, CZ denied the rumors and said that FTX might have spread them.

He stated:

Changpeng Zhao, Binance

Changpeng Zhao
Source: LinkedIn

There was never any concerns about us participating in the bid, or Binance US participating in the bid.

CZ added:

Binance is not a Chinese company. We are not related to China at all. I have to repeat this many times just because I look Chinese but I’ve been a Canadian for thirty years.

CZ noted that now that FTX is not able to follow through, Binance will make another attempt.

FTX’s collapse started with a liquidity crisis and Binance initially offered to acquire the exchange’s US assets but backed out almost immediately, citing failed due diligence checks.

Read Also: