Binance US Acquires Voyager Digital for $1bn
Binance FUD is going on in the crypto sphere recently. There is a huge amount of withdrawal from Binance. At this time, Binance US acquires the bankrupt lending platform Voyager Digital for $1.022 billion. They see a good value proposition in Voyager and hope to increase their user base in the United States.
There are mixed reactions about Binance's move to acquire Voyager Digital assets at this time when there is a FUD in the market. According to Binance, they will return users' cryptocurrencies as soon as possible. That's good news for people who lose hope to get their crypto back from Voyager.
Many people go through a hard time in this bear market. Especially people who trusted centralized crypto platforms like Voyager, BlockFi, and Celsius. They lose their crypto and have little to no hope to get their crypto back in the future.
Some people say Binance US move to acquire Voyager shows how strong Binance is and it can handle any situation. There is nothing to worry about. What's going on in the market, it's just FUD and everything is fine. No doubt that people's trust in any centralized crypto platform is all-time low now.
People don't feel comfortable using centralized crypto exchanges. That's not a good sign for the growth and expansion of any centralized crypto exchange. Due to the economic condition and bear market, the trading volume in exchanges falls drastically.
Binance talked about Proof of Reserve before, but now there are lots of questions about Binance Proof of Reserve. It is surprising to see that the Binance Proof of Reserve statement has been removed from the Mazars website. It is like adding fuel to the Binance FUD fire.
FTX also did something like acting as a savior to show how reliable and strong they were. It felt like FTX was going to save financially insolvent platforms but ended up in a terrible situation and showed the world its true color. Is Binance going in the same direction? Or will Binance remove all FUD and come out stronger than before?
So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
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If I remember correctly the US lawsuits were pressuring binance after the FTX scam and I think to show their strength, reliability and a sense of trust Binance aquire Voyager that's what I think.