Binance.US to Acquire Voyager Digital Assets for $1.022B

1. Voyager Digital Ltd. announced that Binance.US will be acquiring their assets for $1.022 billion.
2. The deal will maximize the value returned to customers and other creditors on an expedited timeframe.
3. A bid for bankruptcy court approval of the asset buyout is set to take place on January 5, 2023.

Voyager Digital Ltd. recently announced that Binance.US, an American licensed entity independent of Binance international, will be purchasing their assets for a total of $1.022 billion. This move is part of their core objective of maximizing the value returned to customers and other creditors on an expedited timeframe. To ensure that this goal is met, a bid for bankruptcy court approval of the asset buyout is set to take place on January 5, 2023.

This all comes after Voyager Digital announced back in July of 2022 that they had a loan to Three Arrows Capital for 15,250 BTC and $350 million USDC. Unfortunately, Three Arrows Capital faced bankruptcy in July as well due to the LUNA/Terra collapse prior. Voyager Digital also had loaned $376 million to the now bankrupt Alameda Research fund, owned by FTX exchange co-founder Sam Bankman-Fried.

In order to ensure that customers receive their funds in a timely manner, Binance.US will be making a $10 million good-faith deposit up front. Additionally, should the deal not close by April of 2023, the agreement allows Voyager to begin returning value to customers. All of these efforts are being made to ensure that those that are owed funds are able to get them in a timely manner.

Voyager Digital is confident that this acquisition of their assets by Binance.US will help them get to their goal of returning value to customers and other creditors as quickly as possible. The deal is set to be approved by the bankruptcy court on January 5, 2023, and it is expected to provide the best outcome for all involved.