1 year ago
According to a press release, Voyager Digital Ltd. announced that Binance.US, an American licensed entity autarkic of Binance international, volition get the assets of the failed cryptocurrency firm. The woody volition beryllium for $1.022 billion, arsenic the firms question “the halfway nonsubjective of maximizing the worth returned to customers and different creditors connected an expedited timeframe.”
Voyager Digital’s assertion against Three Arrows Capital remains wrong the bankruptcy property and immoderate claims awarded volition beryllium directed towards that estate’s creditors.
Back successful July of 2022, Voyager Digital commenced restructuring processes aft they announced they had a indebtedness to Three Arrows Capital for 15,250 BTC and $350 cardinal USDC. Three Arrows Capital faced bankruptcy successful July arsenic well, arsenic a effect of cascading contagion from the LUNA/Terra collapse prior. Bitcoin Magazine PRO besides reported that Voyager Digital had loaned $376 cardinal to the present bankrupt Alameda Research fund, owned by FTX speech co-founder Sam Bankman-Fried.
A bid for bankruptcy tribunal support of the plus buyout is acceptable to instrumentality spot connected January 5, 2023.
The property merchandise states that “The Binance.US bid aims to instrumentality crypto to customers successful kind, successful accordance with court-approved disbursements and level capabilities,” and that the steadfast volition marque a $10 cardinal good-faith deposit up front. Should the woody not adjacent by April of 2023, the statement allows Voyager to statesman returning worth to customers.
English (US) 