FTX CEO - Market Insider
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FTX Wins Bid to Buy Crypto Lender Voyager Digital Assets:

As the bidding war continued between different exchanges for Voyager digital assets, Exchange giant FTX won the battle to buy the assets of bankrupt Voyager Digital.

FTX CEO - Market Insider
FTX CEO – Market Insider

The FTX US’s bid is valued at approximately $1.4 billion.

This was revealed by Voyager on monday, in a press release, Eastern time.

FTX was bidding against Wave Financial, a digital-asset investment firm.

The News gave Voyager Token (VGX) a big momentum to gain 3.76% as of 04:17 UTC, trading around 76 U.S. cents.

Crypto lender Voyager Digital filed for bankruptcy in July after severe financial crisis.

This brought scrutiny on the lending platform by Industry experts, who were trying to understand how the Canadian-listed firm assured clients that investors’ deposits were protected by Federal Deposit Insurance Corporation (FDIC) insurance.

Meanwhile, FDIC insurance would actually protect bank-held cash deposits up to $250,000, but it would not cover cash converted to stablecoins.

By Meekness Nnoka

Blockchain Analyst & Writer with top-notch Technological background. Enjoys reading and writing fascinating crypto contents. 4 years content creating experience.

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