Against the backdrop of the efforts of an unknown MetaFormLabs structure, bids for the service token from cryptocurrency broker Voyager Digital (VGX) have increased by more than 500% in recent days, peaking above $1.

At the time of writing, the asset is trading around $0.54.

MetaFormLabs calls itself a venture firm, but there is no evidence of the company’s registration on the web as a professional market participant. Earlier, the build announced plans to pump the VGX into the $5-8 price range.

“We will continue [продвигать] #PumpVGXTJuly18 whatever the price. We set a new target range of $5-8. The company currently has an internal balance of $50 million and has $67 million promised by well-known crypto enthusiasts,” he said.

By Message At Twitter, the build expects VGX offers to enter target range by July 18, 2022. To facilitate this, MetaFormLabs also launched the hashtag #PumpVGXJuly18 and announced its intention to place marketing materials on billboards of “three or four capitals of the world.”

MetaFormLabs announced its purpose with a desire to save the owners, users, and shareholders of Voyager Digital “who were victims of a series of events after the collapse of the Terra ecosystem.”

On July 5, 2022, a cryptocurrency broker filed for bankruptcy in a New York court. The company’s estimated liabilities range from $1 billion to $10 billion with nearly 100,000 customers.

Voyager Digital is one of the lenders to hedge the Three Arrows Capital (3AC) fund. Second, he was unable to pay his debt of 15,250 BTC and 350 million USDC, so the company sent him a default notice in June.

In July, 3AC also filed for bankruptcy.

To remember FDIC Examines Voyager Digital’s activities. According to the agency, the cryptocurrency broker deceived users by claiming that their assets are protected by the institution’s deposit insurance program.

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