Voyager Digital, the cryptocurrency lender that filed for bankruptcy earlier this year, announced that Binance.US would acquire its assets for $1.022 billion. This bid includes the fair market value of Voyager’s cryptocurrency portfolio, currently valued at around $1.002 billion, and an additional $20 million in incremental value.
In a statement, Voyager explained that the Binance.US acquisition is intended to return crypto assets to customers in a manner that is in line with court-approved disbursements and platform capabilities.
This acquisition is a significant development for Binance.US, as it expands its presence in the cryptocurrency market and bolsters its portfolio of digital assets.
The bankruptcy of Voyager Digital had raised concerns among customers and investors, as it was unclear how the company’s assets would be distributed. However, the agreement with Binance.US provides a clear path forward for the company and its stakeholders.
“We are pleased to have reached this agreement with Binance.US, which will allow us to return value to our customers and creditors in an orderly and transparent manner and we believe this deal represents the best outcome for all parties involved. Also, we are grateful for the support and cooperation of Binance.US throughout this process. ” said Voyager CEO Steve Ehrlich.
Voyenger Digital LLC will seek approval from the Bankruptcy Court to enter into an asset purchase agreement with Binance.US. The hearing for this matter has been scheduled for January 5, 2023. This agreement would involve the transfer of assets from Voyager Digital LLC to Binance.US.
The acquisition is also subject to regulatory approval and is expected to close in the coming months. In the meantime, Voyager Digital will continue to operate as usual and will work closely with Binance.US to ensure a smooth transition.
Finally, as the world’s leading cryptocurrency exchange, Binance has a strong track record of delivering value to its customers and expanding its reach in the industry. The acquisition of Voyager Digital’s assets is a strategic move that will further cement Binance’s position as a key player in the cryptocurrency market.
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