The Binance Factor: Why A Bankrupt Crypto Lender's Token Is Up 23% Today

Voyager Digital's native token (CRYPTO: VGX) is up 23% in the last 24 hours after Binance.US made a deal to buy the assets of the insolvent crypto lender for $1.02 billion. What Happened: At the time of writing, VGX was trading at $0.35, with a market cap of $104 million.

Timeline of Voyager-token

Binance.US, an arm of the global cryptocurrency exchange Binance, has agreed to buy the assets if Voyager Digital, according to an announcement published Monday. The bid by Binance.US comes amid increased attention on crypto firms, and with Voyager under bankruptcy protection following this year's crushing crypto winter and contagion.

VGX, the native asset of bankrupt cryptocurrency lending platform Voyager Digital, saw a significant surge in trading activity over the last 24 hours. Read Voyager [VGX] Price Prediction 2023-2024 The unexpected rally in price and trading volume came after reports citing a person familiar with the matter revealed that Binance U.

Voyager Token (CRYPTO: VGX), the native token of Voyager Digital Ltd (Pink: VYGVQ), which filed for bankruptcy in July, is soaring Thursday morning on reports that Binance is relaunching a bid to purchase the company.

Beleaguered crypto firm Voyager Digital's native token Voyager Token (VGX) skyrocketed over 50% as crypto exchange Binance.US plans to resubmit a bid. Crypto exchange FTX's deal with Voyager failed after FTX filed for Chapter 11 bankruptcy.

As FTX US filed for bankruptcy, Voyager announced the re-commencement of the auction process of its assets This caused VGX to rally astronomically in the past 24 hours Bankrupt crypto lender Voyager [VGX] announced the reopening of the bidding process for its assets on 11 November.

Following the confirmation of FTX as the winner of the auction for the assets of bankrupt crypto brokerage Voyager Digital Ltd, its creditors have challenged the proposed plans to offer the company's officers and directors immunity from any lawsuits related to the collapse of the crypto brokerage firm, court papers filed on 12 October revealed.

The crypto brokerage and lender Voyager Digital faced severe tides since it filed for bankruptcy proceedings on 6 July 2022. Impacted by the collapse of Three Arrows Capital (3AC), Voyager Digital, in a 22 June press release, informed its users of its 15,250 BTC and $350 million investment exposure to 3AC.

Voyager Token (CRYPTO: VGX), a token linked with digital assets trading firm Voyager Digital spiked 3.9% to $0.71 at 10:26 p.m. EDT. Voyager Token (VGX) Price Performance Time-frame % Change (+/-) 24-hour 3.9% 24-hour against Bitcoin (CRYPTO: BTC) 0.6% 24-hour against Ethereum (CRYPTO: ETH) 0.4% 7-day -3.7% 30-day 55.5% YTD-performance -76.

Voyager (VGX), the crypto exchange platform that declared bankruptcy in July, used to be a force to reckon with in the crypto space. VGX pumps up in price by 44% in the past 24 hours Voyager Digital files notice for public auction of the remainder of its assets  VGX registers a spike in trading volume and social metrics  In fact, VGX, its native token, has soared 10x in a few months following its launch.

The year 2021 was a turning point for several cryptocurrencies. A combination of events caused the value of many altcoins to soar. Voyager Token (VGX) was one such token that garnered attention in the market due to its overall success.