The current bid from Binance is about $50m, slightly higher than the competing bid from FTX, according to the people. Voyager, founded in 2019, operated a crypto lending platform that took in customer deposits, paid them interest and lent out the assets to other parties. It went public via a reverse merger in 2019. At the time of its bankruptcy filing in July 2022, Voyager said it had total assets of $5b and total liabilities of $4.9b.
Voyager, which trades in Toronto and operates out of New York, declared bankruptcy in July after the selloff in cryptocurrencies sparked a wave of withdrawal requests that drained the company’s reserves. Its stock price in 2022 had fallen more than 95% at the time of the filing.