Binance.US To Acquire Bankrupt Crypto Platform Voyager’s Assets in $1,020,000,000 Deal
Binance.US will acquire more than $1 billion worth of assets from bankrupt crypto platform Voyager after FTX’s plans to acquire them fell through.
According to Voyager, Binance.US, a subsidiary of the world’s largest crypto exchange Binance, is the highest bidder for its assets at $1.022 billion.
The bid price includes the $1.002 billion estimated current value of Voyager’s cryptocurrency portfolio.
In a press release, Voyager says,
“[The Binance.US offer is] the highest and best bid for its assets after a review of strategic options with the core objective of maximizing the value returned to customers and other creditors on an expedited timeframe.”
Binance.US intends to put down a $10 million deposit and reimburse Voyager for unspecified expenses up to $15 million with the expectation of closing the deal by April 18, 2023, per Voyager.
Voyager says it will seek approval of the agreement from US bankruptcy court at a January 5, 2023 hearing.
Voyager filed for bankruptcy in July after crypto firm Three Arrows Capital (3AC), a prominent borrower, failed to pay back a substantial loan worth over $650 million and caused the digital assets lender to halt all customer deposits, withdrawals, and trades.
In October, the crypto exchange FTX was in line to purchase Voyager for a $1.42 billion bid. However, weeks later the deal was scrapped after the exchange collapsed and its disgraced founder Sam Bankman-Fried was arrested for fraud and other charges.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/jovan vitanovski
The post Binance.US To Acquire Bankrupt Crypto Platform Voyager’s Assets in $1,020,000,000 Deal appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
