Binance US To Buy Voyager Digital’s Assets For $1.022 Billion

Voyager Digital has had a very long year. The crypto lender filed for bankruptcy and believed it could return some funds to customers by selling its assets. As you all know, things have yet to go as planned at FTX. Binance.US has offered to purchase Voyager Digital assets for $1.022 million.

It all began with the default of Three Arrows Capital in January. It had significant repercussions on the entire crypto ecosystem. Voyager Digital discovered that Three Arrows Capital owed her more than $650 million. As a result, it was forced to file Chapter 11

“After a review of strategic options focused on maximizing value returned to customers on an expedited timeframe, Binance.US has been selected as the highest and best bidder for our assets,” Voyager Digital said on Twitter today.

Binance.US has agreed to purchase Voyager’s crypto portfolio today for $1.002 Billion. It also spends another $20 million on assets of “incremental worth.”

Binance.US is looking to return crypto to Voyager Digital customers. They will be able to connect to Binance.US to see crypto assets based on their Voyager Digital positions.

“Upon close of the deal, users will be able to seamlessly access their digital assets on the Binance.US platform where they will continue to receive future disbursements from the Voyager estate,” Binance.US CEO Brian Shroder said in a statement.

Users will be able to sell their positions and receive cash. This deal will bring Binance.US new users. Some may use Binance.US for their crypto exchange. Others will sign up only to withdraw Voyager Digital funds.

Changpeng Zhao (Binance CEO), also known as CZ, stated last month that the U.S. arm of its company would bid for Voyager Digital assets.

“Binance.US will make another bid for Voyager now, given FTX is no longer able to follow through on that commitment,” he said.

The deal is still open. A court hearing will take place on January 5, 2023, due to Chapter 11 proceedings. If the Bankruptcy Court approves the deal, they will decide it.

Related Stories:

🙏 Help Us By Sharing This Article 👇: