CrossTower considers buying other crypto firms: Bloomberg

Quick Take

  • Crypto exchange CrossTower is considering making acquisitions of crypto firms in addition to its bid for bankrupt lender Voyager Digital.
  • CrossTower may set up a separate rescue fund.

Crypto exchange CrossTower is considering making further acquisitions beyond its bid for crypto lending platform Voyager Digital, its chief executive told Bloomberg. 

Kapil Rathi told Bloomberg the company is "in a great place" to acquire companies that have good customers and a good balance sheet, adding the company's investors remained "cautious."

Although Rathi said the company had no plans to contribute to Binance's effort to create an industry fund, CrossTower President Kristin Boggiano said the firm and several of its backers have considered setting up a rescue venture fund of their own.

CrossTower submitted a bid for bankrupt lender Voyager Digital last week after FTX US’s bid fell through in the wake of its filing for Chapter 11 bankruptcy protection.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.