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Abu Dhabi-Based Havyn to Buy Bankrupt FTX!here’s the full story

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Hayvn, a virtual asset trading platform regulated by Abu Dhabi Global Market, announced Friday that it is considering a formal takeover offer. Payment Division Troubled FTX cryptocurrency exchange. Many of FTX’s businesses may be sold or restructured as part of the bankruptcy process. HAYVN can take advantage of this by adding FTX Pay to its increasingly robust HAYVN Pay infrastructure.

Christopher Flinos, CEO of HAYVN, said: “We are pleased to learn that some of FTX’s businesses have solvent balance sheets, responsible management and valuable franchises. Our goal To ensure that within two years, 75% of all e-commerce and point-of-sale transactions globally will offer customers a cryptocurrency payment option. The acquisition of FTX Pay will help strengthen our position as the global leader in cryptocurrency payment solutions.”

He added: “Once they have court approval, we are open to discussions with their banker, Perella Weinberg. We will continue to grow our HAYVN Pay business both organically and through acquisitions.”

In the largest cryptocurrency exchange collapse to date, FTX filed for bankruptcy protection in the US on Nov. 11 as traders withdrew $6 billion from the platform in just three days, while rival exchange Binance pulled out rescue plan.

“FTX Trading Ltd, West Realm Shires Services, Alameda Research and approximately 130 other affiliates have commenced voluntary proceedings under Chapter 11 of the Delaware bankruptcy code,” FTX issued a statement on Twitter.

Will Binance Acquire Voyager?

Following the collapse of FTX, Voyager reopened the bidding process, its board is reportedly actively reaching out to potential bidders, and Binance was in the news. Furthermore, according to the company, no assets related to the previous sale agreement were transferred to FTX.

Voyager was surprised by the collapse of cryptocurrency hedge fund Three Arrows Capital, which had more than 100,000 creditors and billions of dollars in liabilities, resulting in more than $650 million in losses.

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