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FTX Wins Bid to Buy Voyager Digital’s Assets ; Cosmos Community Launches New ATOM Tokenomics Plans

Updated: Sep 27, 2022

Daily Market Wrap

  • Crypto market cap: 956.87 Billion, up 4.82%

  • BTC price stands at USD 19,812, up 4.96%

  • ETH price stands at USD 1,368, up 4.99%

  • Top gainer: Terra (LUNA), up 25.78%

  • Top loser: XRP (XRP), down 2.34%

News of the Day

Why it matters:

  • On July 5th, Voyager declared bankruptcy under chapter 11 after Three Arrows defaulted on their loan, which allowed the firm to retain control of its assets and continue operating whilst it plans to restructure or sell the business

  • As a result, the company attracted acquisition biddings from Binance, CrossTower and FTX, all of whom proposed different solutions which will impact existing Voyager clients

  • Voyager has selected FTX as the best bid, which covers $1.311 billion worth of cryptocurrency in fair value and $111 million in incremental value, for which FTX will be returning value to Voyager’s customers and creditors

Crypto Daily Spotlight

Brief introduction: Cosmos is a proof-of-stake blockchain that powers an ecosystem of blockchains designed to scale and interoperate with each other. Cosmos offers a set of open source tools like Tendermint, Cosmos SDK and inter-blockchain communication (IBC).

Why it matters:

  • Cosmos community has released a whitepaper to revamp its native ATOM token’s tokenomics, introducing accrual value to ATOM to generate protocol revenue

  • The ecosystem plans to leverage protocols such as Umee to provide more liquid staking, effectively mitigating the 21-day unbonding period, leading to higher staking rates for ATOM across Cosmos chains

  • The paper outlines the Hub to be at the heart of interchain security, such that other chains can use the Hub to secure their own networks

Daily Sector Tracker

Daily News Roundup

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  2. Disney’s Latest Job Posting Hints at Big Plans for NFT and Crypto Adoption

  3. Apple Allows NFT Sales On Its App Store — But There’s a Catch

  4. Crypto Fugitive Do Kwon Says He Isn’t Hiding From Authorities

  5. DeFi Protocol Phuture Launches Earn Product for Stablecoin USDC

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Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.

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