Voyager Token VGX/USD, the native token of Voyager Digital Ltd VYGVQ, which filed for bankruptcy in July, is soaring Thursday morning on reports that Binance is relaunching a bid to purchase the company.
What To Know: Voyager filed for Chapter 11 bankruptcy protection at the beginning of July, citing "prolonged volatility and contagion in the crypto markets," related to the default of Three Arrows Capital (3AC).
In September, crypto exchange FTX agreed to acquire the company. However, FTX, along with related trading firm Alameda Research and approximately 130 affiliated companies filed for Chapter 11 bankruptcy last week following the collapse of the FTX Token FTT/USD and the unraveling of FTX CEO Sam Bankman-Fried.
As a result, Voyager reopened the bidding process and it appears crypto exchange Binance is interested.
According to a CoinDesk report, Binance's U.S. arm has relaunched a bid to purchase the bankrupt crypto lending platform.
VGX Price Action: Despite Thursday's pop, the VGX token is still down more than 85% since the start of the year.
VGX was up 57.43% over a 52-hour period at $0.4515 at time of publication, according to Benzinga Pro.
Photo: Jernej Furman from Flickr.
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