Binance US Agrees To Buy Voyager Assets In $1 Billion Deal
Voyager Digital, the bankrupt crypto lender, has announced that Binance US has agreed to purchase its assets for $1.022 billion. The bid signifies the fair market value of just over $1 billion, as well as an additional consideration of $20 million in incremental value.
Voyager, which declared bankruptcy earlier this year, agreed to sell its assets to the now-defunct crypto exchange FTX, with FTX outbidding rivals Binance and Wave Financial.
Voyager representatives stated that the Binance US bid intends to return crypto to customers in kind, as per the court-approved disbursements and platform functionalities.
CEO Changpeng Zhao previously noted that the US branch of the exchange would make a new bid for Voyager Digital. Binance US will hence make a $10 million good faith deposit and reimburse Voyager for certain expenses for a maximum of $15 million. Additionally, Voyager will seek the approval of the bankruptcy court via a hearing on January 5th, 2023.
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