Bankrupt Crypto Broker Voyager’s Native Token VGX Skyrockets by Over 125% in 24 Hours Amid Takeover Rumors
The native token of embattled crypto dealer Voyager Digital (VGX) is surging as rumors of a possible takeover proceed to flow into.
Based on a current firm presentation, quite a few companies, together with AlamedaFTX, the digital property hedge fund of crypto billionaire Sam Bankman-Fried, have proven curiosity in buying Voyager’s property.
Information of a possible buyout prompted VGX to skyrocket from a 24-hour low of $0.328 to $0.743, a staggering 126.52% acquire in simply at some point. The token has retraced since and is buying and selling for $0.60 at time of writing.
Voyager says that out of the 88 firms which can be probably fascinated by shopping for its distressed property, 22 have been lively within the advertising course of. The corporate plans to carry its gross sales listening to on September seventh.
Final week, Binance CEO and founder Changpang Zhao told The New York Instances that each Voyager and fellow troubled crypto lender Celsius approached the crypto change in hopes of discussing promoting their property to the platform.
As acknowledged by Zhao in an interview,
“Our staff’s partaking in all of these conversations.”
Final month, crypto change FTX, additionally an organization spearheaded by Bankman-Fried, made a proposal to buy Voyager’s property, however the crypto dealer rebuked the Seychelles-based firm saying its proposal was “extremely deceptive” and a “low-ball bid.”
In its presentation, Voyager notes that it has already obtained higher bids than what was provided by AlamedaFTX.
“Voyager has already obtained bids by means of the advertising course of which can be increased and higher than AlamedaFTX’s proposal; AlamedaFTX’s tweets, interview on Fox, and press releases are inaccurate.”
Voyager first introduced a halt to all trades, deposits, and withdrawals in early July after digital property hedge fund Three Arrows Capital (3AC) did not pay again a mortgage value lots of of hundreds of thousands of {dollars}. A number of weeks later, Voyager filed for chapter.
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