According to a person familiar with the matter, Binance.US, the American branch of the world’s largest cryptocurrency exchange, is preparing to bid on the insolvent loan platform Voyager Digital.
In a previous auction, which ended towards the end of September, the now-bankrupt FTX emerged as the winning party defeating rivals Wave Financial and Binance with an estimated $1.4 billion bid.
Following FTX’s bankruptcy filing last week, Voyager said that it has reopened the bidding process for the firm and is in active conversations with other bidders. Wave Financial and the trading platform Cross Tower are said to be contenders.
Binance CEO Changpeng “CZ” Zhao earlier this week said that his exchange is establishing an industry recovery fund to help get the industry back to its feet by strategically investing and bailing out firms that got in trouble.