Binance CZ Getting Busy, Interested In Acquiring Voyager & Also Genesis Loan Book

Binance CZ Getting Busy, Interested In Acquiring Voyager & Also Genesis Loan Book.

Since the fall of FTX, Binance has undoubtedly emerge as the king of crypto exchanges right now. Not only that Binance also revealed that proof-of-reserves which showed a massive $69 billion of assets.

Looks like Binance and CZ are busy trying to acquire many different crypto companies such as Voyager Digital and also the loan book of crypto lending company, Genesis.

Binance US To Relaunch Bid For Voyager

Binance US, the American arm of Binance is reportedly going to relaunch their bid to acquire bankrupt lending company, Voyager Digital, according to CoinDesk. Previously, FTX was the winner of the bidding auction for Voyager, where FTX would acquire the company for $1.4 billion.

Binance has actually also made a $50 million bid for Voyager then but lost to FTX. And since FTX had filed for bankruptcy, Voyager has reopened their bidding process. 

CrossTower, another global crypto exchange platform is also in the running to bid for Voyager. The market seems to reflect well on the news, VGX, the Voyager token, is up 40% due to the news of a potential bid from Binance.

Read More: Gemini Exchange Faces a Rush of Withdrawals After The Firm Halted its Services Temporarily

Binance CZ Interested In Acquiring Genesis’ Loan Book

According to reports, CZ is also interested in acquiring Genesis’s loan book. A source familiar with the situation who spoke with Blockworks, Changpeng “CZ” Zhao has started contacting people to learn more about the condition of Genesis’ balance sheet as he considers making a bid for the loan assets of the company. In its Q3 2022 report, Genesis lists active loans worth $2.8 billion.

Not only Binance but B2C2 Group is also interested acquiring loans from Genesis, “to alleviate the current liquidity shortfall”.

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Genesis disclosed last week that it has an exposure of $175 million in locked funds in its FTX trading account.

Digital Currency Group (DCG), the parent company of Genesis is said to not be interested in selling their loan book but may entertain an offer of more than $2 billion.

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