Binance.US set to acquire Voyager Digital assets for $1B

According to a caller property merchandise published connected Dec. 19, cryptocurrency speech Binance.US volition get assets of bankrupt crypto lender Voyager Digital for $1.022 billion. After a reappraisal of strategical options, the steadfast said that Binance.US represented the "highest and champion bid for its assets."

The $1.022 cardinal bid is comprised of the just marketplace worth of Voyager's cryptocurrency portfolio astatine a to-be-determined day successful the future, on with an further information adjacent to $20 cardinal of incremental value.

"The Company's claims against Three Arrows Capital stay with the bankruptcy estate, and immoderate aboriginal betterment connected these and different non-released claims volition beryllium distributed to the estate's creditors. The Binance.US bid aims to instrumentality crypto to customers successful kind, successful accordance with court-approved disbursements and level capabilities."

The woody is acceptable to adjacent by April 18, 2023. Binance has agreed to marque a $10 cardinal deposit successful bully religion and volition reimburse Voyager for definite expenses up to a maximum of $15 million. A proceeding volition beryllium held by the presiding bankruptcy tribunal to o.k. the acquisition statement connected January 5, 2023. In addition, the merchantability is taxable to a creditor's ballot and different customary closing conditions.

 Voyager paused withdrawals successful July and filed for bankruptcy amid liquidity issues arising from its vulnerability to a $650 cardinal indebtedness default from defunct hedge money Three Arrows Capital. Cointelegraph previously reported successful October that troubled cryptocurrency speech FTX US secured a bid for Voyager's assets for $1.4 billion. The erstwhile woody enabled elder claims to beryllium paid retired successful afloat and allowed unsecured creditors to retrieve astir 72% of the worth of their accounts.