FTX and Binance lead bidding for Voyager assets

FTX and Binance have made the leading bids for the assets of bankrupt crypto-lender Voyager Digital, the Wall Street Journal reported, adding that neither bid has been accepted yet.

Why it matters: The crypto winter hit firms like Voyager hard and kickstarted a consolidation run that is playing out across the space.

Details: Citing people familiar with the matter, the WSJ says Binance's bid is about $50 million, a bit higher than FTX's.

Of note: Voyager initially rejected FTX's offer, calling it a low-ball, Axios previously reported.

What's next: We'll be watching which bid Voyager and its advisers accept and the final result of the auction.

• The auction began on Sept 13. Other bidders include crypto investment manager Wave Financial and trading platform CrossTower, the WSJ reports.
• The winner is scheduled to be announced Sept. 29.