The native token of embattled crypto broker Voyager Digital (VGX) is surging as rumors of a potential takeover continue to circulate.
According to a recent company presentation, numerous firms, including AlamedaFTX, the digital assets hedge fund of crypto billionaire Sam Bankman-Fried, have shown interest in purchasing Voyager’s assets.
News of a potential buyout caused VGX to skyrocket from a 24-hour low of $0.328 to $0.743, a staggering 126.52% gain in just one day. The token has retraced since and is trading for $0.60 at time of writing.
Voyager says that out of the 88 companies that are potentially interested in buying its distressed assets, 22 have been active in the marketing process. The company plans to hold its sales hearing on September 7th.
Last week, Binance CEO and founder Changpang Zhao told The New York Times that both Voyager and fellow troubled crypto lender Celsius approached the crypto exchange in hopes of discussing selling their assets to the platform.
As stated by Zhao in an interview,
“Our team’s engaging in all of those conversations.”
Last month, crypto exchange FTX, also a company spearheaded by Bankman-Fried, made an offer to purchase Voyager’s assets, but the crypto broker rebuked the Seychelles-based company saying its proposal was “highly misleading” and a “low-ball bid.”
In its presentation, Voyager notes that it has already received better bids than what was offered by AlamedaFTX.
“Voyager has already received bids through the marketing process that are higher and better than AlamedaFTX’s proposal; AlamedaFTX’s tweets, interview on Fox, and press releases are inaccurate.”
Voyager first announced a halt to all trades, deposits, and withdrawals in early July after digital assets hedge fund Three Arrows Capital (3AC) failed to pay back a loan worth hundreds of millions of dollars. A few weeks later, Voyager filed for bankruptcy.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/eliahinsomnia/WindAwake
