{"id":15836,"date":"2022-12-19T14:12:24","date_gmt":"2022-12-19T14:12:24","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/binance-us-set-to-acquire-voyager-digital-assets-for-1b\/"},"modified":"2022-12-19T14:12:26","modified_gmt":"2022-12-19T14:12:26","slug":"binance-us-set-to-acquire-voyager-digital-assets-for-1b","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/binance-us-set-to-acquire-voyager-digital-assets-for-1b\/","title":{"rendered":"Binance.US set to acquire Voyager Digital assets for $1B"},"content":{"rendered":"
<\/p>\n
According to a new press release published on Dec. 19, cryptocurrency exchange Binance.US will acquire assets of bankrupt crypto lender Voyager Digital for $1.022 billion. After a review of strategic options, the firm said that Binance.US represented the “highest and best bid for its assets.”<\/p>\n
The $1.022 billion bid is comprised of the fair market value of Voyager’s cryptocurrency portfolio at a to-be-determined date in the future, along with an additional consideration equal to $20 million of incremental value.<\/p>\n
“The Company’s claims against Three Arrows Capital remain with the bankruptcy estate, and any future recovery on these and other non-released claims will be distributed to the estate’s creditors. The Binance.US bid aims to return crypto to customers in kind, in accordance with court-approved disbursements and platform capabilities.”<\/p><\/blockquote>\n
The deal is set to close by April 18, 2023. Binance has agreed to make a $10 million deposit in good faith and will reimburse Voyager for certain expenses up to a maximum of $15 million. A hearing will be held by the presiding bankruptcy court to approve the purchase agreement on January 5, 2023. In addition, the sale is subject to a creditor’s vote and other customary closing conditions.<\/p>\n
\u00a0Voyager paused withdrawals in July and filed for bankruptcy amid liquidity issues arising from its exposure to a $650 million loan default from defunct hedge fund Three Arrows Capital. Cointelegraph previously reported in October that troubled cryptocurrency exchange FTX US secured a bid for Voyager’s assets for $1.4 billion. The previous deal enabled senior claims to be paid out in full and allowed unsecured creditors to recover approximately 72% of the value of their accounts.\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
According to a new press release published on Dec. 19, cryptocurrency exchange Binance.US will acquire assets of bankrupt crypto lender Voyager Digital for $1.022 billion. After a review of strategic options, the firm said that Binance.US represented the “highest and best bid for its assets.” The $1.022 billion bid is comprised of the fair market […]<\/p>\n","protected":false},"author":1,"featured_media":15837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-15836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"\n
Binance.US set to acquire Voyager Digital assets for $1B | NFT & Crypto News<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\t\n\t\n\t\n