Crypto exchange CrossTower Inc., which is currently bidding for Voyager Digital assets, is said to be window-shopping for other crypto company acquisitions.
In a November 24 Bloomberg report, Kapil Rathi, CEO of CrossTower revealed that the company is looking to attract companies with a “good set of customers” and a “good track record” despite the current bear market, stating:
“We are in an ideal position to acquire entities that have a good set of customers with them and a good balance sheet […] so we openly look at different types of businesses from an organic growth perspective. »
In September, CrossTower was one of the companies flagged as in competition to acquire the assets from bankrupt crypto lender Voyager Digital, as well as FTX and Binance.
FTX Trading eventually became the winner of Voyager’s bid on September 27 with a sale valued at $1.4 billion.
However, with the November 11 bankruptcy filing exchange, Voyager reopened the bidding process and a new revised offer came from CrossTower the same day.
“We are working on a revised offering which we believe will benefit Voyager customers and the wider Crypto community. CrossTower has always been and will continue to be very community driven,” a spokesperson told Cointelegraph at the time, without specifying an amount.
Although CrossTower has yet to release details on its latest offer for Voyager, CrossTower President Kristin Boggiano said Voyager’s small $3 million FTX investment would not play a role in a potential sale of Voyager. the lending platform.
CrossTower also said it has “minimal exposure” to FTX-related investments.
Other companies coming back online to buy Voyager’s assets include Binance and blockchain-focused venture capital firm Wave Financial, which had also expressed interest in the initial auction of Voyager’s assets in September.
In light of recent events with FTX, Boggiano said the company has now placed more emphasis on highly transparent and compliance-focused businesses.
“There is an opportunity in this market to provide a compliance-focused platform and deliver the transparency and trust people have been hoping for.”
However, Rathi said the trading platform’s risk appetite for buying businesses has stabilized as the company looks to take a slightly more cautious approach in the short to medium term.
CrossTower is a crypto asset exchange in the United States that was founded in 2019. It is a relatively small exchange with only $103,816 in trading volume in the last 24 hours with 13 spot markets, according at Coinmarketcap.