First Mover Americas: Binance.US Makes Another Run at Voyager Digital

The latest price moves in crypto markets in context for Nov. 17, 2022.

AccessTimeIconNov 17, 2022 at 1:29 p.m. UTC
Updated Mar 3, 2023 at 6:59 p.m. UTC

This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.

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838.76
−8.4 1.0%
$16,572
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Treasury Yield 10 Years
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BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)

Top Stories

Binance.US is making another bid to acquire bankrupt lender Voyager Digital, according to a person familiar with the plans. Previously, the now-defunct crypto exchange FTX emerged as the “white knight” for Voyager, beating rivals Wave Financial and Binance. This time round, Wave Financial and trading platform Cross Tower are reported to be in the running. Voyager’s native coin, VGX, jumped more than 55% following CoinDesk's report.

Genesis’ crypto-lending unit has halted customer withdrawals temporarily in the wake of FTX’s collapse. The unit, which serves an institutional client base and had $2.8 billion in total active loans at the end of the third quarter, is exploring solutions, including finding a source of fresh liquidity. Genesis owner Digital Currency Group is also the parent company of CoinDesk.

El Salvador President Nayib Bukele and Tron founder Justin Sun have committed to buying one bitcoin every day amid fears that FTX’s collapse will prolong the crypto winter. The strategy of purchasing bitcoin on a set schedule instead of in reaction to market movements is known as dollar cost averaging.

Chart of the Day

Chart of the Day 11/17/22
  • The chart shared by Stéphane Monier, chief investment officer at Lombard Odier, a Swiss private bank, shows global shipping rates have collapsed to pre-pandemic levels.
  • The receding costs signal lower inflation and economic recession ahead, weakening the case for continued liquidity tightening by the Federal Reserve.

– Omkar Godbole

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Krisztian  Sandor

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

Omkar Godbole

Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.