Binance US Will Resubmit Offer for Voyager Assets, Confirmed By CZ

The CEO of Binance also said that the industry let FTX grow too large before scrutinizing its activities.

Changpeng Zhao said that Binance US would return to the table because of FTX’s inability to fulfil its pledge to acquire Voyager and its assets.

Despite his appearance, he maintained his earlier assertion that Binance is not a Chinese corporation.

Binance US Will Bid On Voyager Once Again

Multiple industry businesses, including Voyager, were forced to declare bankruptcy due to the cryptocurrency winter that began earlier this year and was exacerbated dramatically by Terra’s collapse.

In search of a partial solution for its consumers, the troubled cryptocurrency lender auctioned off its assets. The two US affiliates of FTX and Binance were the bid’s favourites, and FTX’s US affiliate won.

Given what transpired with FTX, Alameda Research, and FTX US, the formerly SBF-led exchange was compelled to abandon the transaction. Binance will resume its offer for Voyager, according to CZ, the company’s chief executive officer.

After attributing allegations of security difficulties at Binance US to FTX, the executive said that his exchange has bought “multiple companies” in the United States without regulatory complications. As such, it plans to “make another bid for Voyager now, given FTX is no longer able to follow through on their commitment.”

CZ stated that Binance would seek to fund $1 billion to acquire assets from Voyager and other failing crypto businesses.

Separately, the CEO of Binance reiterated that the exchange is not a Chinese corporation, stating that he feels compelled to do so “simply because I look Chinese.”

FTX Got Too Large

CZ stated he shares some guilt for the stunning FTX crash and Binance’s involvement since it took him too long to tweet the first domino-falling message. Recall that Zhao said Binance intended to sell off its whole stack of FTT tokens after the revelation that Alameda and FTX are overexposed to it.

“I think, as an industry, we let FTX get too big before we started to question some of those things.” – CZ noted.