Binance CEO Changpeng well known as CZ, after holding back the purchase of the lending platform Voyager has reignited his interest in the platform after confirming it was not a security. The U.S. wing of Binance will be taking this opportunity knowing it is not going against the U.S. government.
There is also talk about the fact that these claims that Voyage was a security concern (because CZ is from china and Voyage is a Chinese platform) were spread by Voyage who only did so after they dropped out of the race as prospective buyers after the exchange went bankrupt.
CZ is a Canadian citizen. The whole situation doesn’t seem to make any sense. The rumour of this purchase was security risk was thought to be spread by FTX who were initially interested in purchasing the platform.
At Bloomberg, CZ brought up the idea that he was considering purchasing this bankrupt lending platform. CZ is yet to announce the price of the purchase of this company but FTX was set to spend about $1.4 billion.
There is a lot to unpack from this but to me, I don’t know what buying a lending platform does for Binance. Are we going to have a lending option added to the Binance web? It would be interesting to see how it will work.
I know that other lending platforms have been on Defi and functioned to provide money like brokers to make larger trades but the only person that stands to lose while borrowing is the borrower if the body gets lost in a trade.
It is interesting to note that even CZ is buying lost right now. The big dog in the crypto market has not had enough and still works on purchasing more and having more will mean so much whenever the bull market returns.
So what are you waiting for…make that purchase right now?
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