CrossTower revises new offer for Voyager's assets after FTX's bankruptcy
Crypto exchange CrossTower is working on a revised offer for the assets of bankrupt crypto lender Voyager Digital, a spokesperson told Cointelegraph. Voyager announced the reopening of its bidding process after FTX US, the original winner in the bid, filed for bankruptcy in the United States on Nov. 11.
"We are working on a revised offer that we feel will benefit the Voyager customers and the wider Crypto community. CrossTower has always been, and will continue to be, very community-focussed.", the spokesperson said, without specifying an amount.
In September, FTX US secured the winning bid for the assets for approximately $1.4 billion, according to Voyager. The assets' sale would be completed after a chapter 11 plan and an asset purchase agreement approved by the U.S. Bankruptcy Court for the Southern District of New York.
In the statement disclosed on Nov. 11, Voyager said that "the no-shop provisions of the Asset Purchase Agreement between Voyager and FTX US are no longer binding.", adding that the bidding process was reopened, and the bankrupt company was in "active discussions with alternative bidders."
According to the CrossTower spokesperson, the company is currently not aware of other players participating in the bidding process.
As previously reported by Cointelegraph, along with FTX, Binance and CrossTower submitted bids to acquire Voyager's assets, each proposing their own terms and conditions.
CrossTower proposed keeping the existing Voyager platform and app, meaning that customers won't have to switch platforms once the deal was closed. As part of this plan, customers would also receive their pro rata share of assets. Additionally, CrossTower's acquisition plan would see the exchange share its revenue with
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