Bankrupt Crypto Broker Voyager’s Native Token VGX Skyrockets by Over 125% in 24 Hours Amid Takeover Rumors

The native token of embattled crypto dealer Voyager Digital (VGX) is surging as rumors of a possible takeover proceed to flow into.

In line with a current firm presentation, quite a few companies, together with AlamedaFTX, the digital property hedge fund of crypto billionaire Sam Bankman-Fried, have proven curiosity in buying Voyager’s property.

Information of a possible buyout precipitated VGX to skyrocket from a 24-hour low of $0.328 to $0.743, a staggering 126.52% achieve in simply in the future. The token has retraced since and is buying and selling for $0.60 at time of writing.

Voyager says that out of the 88 firms which are doubtlessly concerned with shopping for its distressed property, 22 have been energetic within the advertising and marketing course of. The corporate plans to carry its gross sales listening to on September seventh.

Final week, Binance CEO and founder Changpang Zhao told The New York Occasions that each Voyager and fellow troubled crypto lender Celsius approached the crypto trade in hopes of discussing promoting their property to the platform.

As said by Zhao in an interview,

“Our staff’s partaking in all of these conversations.”

Final month, crypto trade FTX, additionally an organization spearheaded by Bankman-Fried, made a proposal to buy Voyager’s property, however the crypto dealer rebuked the Seychelles-based firm saying its proposal was “extremely deceptive” and a “low-ball bid.”

In its presentation, Voyager notes that it has already acquired higher bids than what was provided by AlamedaFTX.

“Voyager has already acquired bids via the advertising and marketing course of which are greater and higher than AlamedaFTX’s proposal; AlamedaFTX’s tweets, interview on Fox, and press releases are inaccurate.”

Voyager first introduced a halt to all trades, deposits, and withdrawals in early July after digital property hedge fund Three Arrows Capital (3AC) didn’t pay again a mortgage price a whole lot of hundreds of thousands of {dollars}. Just a few weeks later, Voyager filed for chapter.

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