{"id":42358,"date":"2022-12-19T15:15:19","date_gmt":"2022-12-19T19:15:19","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=42358"},"modified":"2022-12-19T15:15:22","modified_gmt":"2022-12-19T19:15:22","slug":"binance-us-agrees-to-buy-voyagers-assets-for-1-02b","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/binance-us-agrees-to-buy-voyagers-assets-for-1-02b\/","title":{"rendered":"Binance.US Agrees To Buy Voyager’s Assets For $1.02B"},"content":{"rendered":"\n
Voyager Digital, the bankrupt crypto lender<\/a>, said Binance.US has agreed to buy its assets for $1.022 billion.<\/h5>\n\n\n\n
\"Binance.US
Binance.US Agrees To Buy Voyager's Assets For $1.02B<\/figcaption><\/figure>\n\n\n\n

In accordance with a fresh press release released on December 19, the cryptocurrency exchange Binance.US<\/a> will pay $1.022 billion to buy the assets of the defunct lender Voyager Digital. <\/p>\n\n\n\n

The company said that Binance.US represented the “highest and best bid for its assets” after considering its tactical choices. The fair market value of Voyager's cryptocurrency holdings at a future date that has not yet been determined, plus an additional consideration worth $20 million in additive value, make up the $1.022-billion bid.<\/p>\n\n\n\n

\n

\u201cThe Company\u2019s 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\u2019s creditors. The Binance.US bid aims to return crypto to customers in kind, in accordance with court-approved disbursements and platform capabilities.\u201d<\/p>\n<\/blockquote>\n\n\n\n

The transaction must be completed by April 18, 2023. In good faith, Binance has committed to depositing $10 million and, up to a maximum of $15 million, paying back some costs incurred by Voyager. On January 5, 2023, the presiding bankruptcy court will hold a hearing to approve the purchase deal. <\/p>\n\n\n\n

The sale is additionally contingent upon a creditor's approval and other usual closing requirements. Due to liquidity problems brought on by its exposure to a $650 million loan default from the now-defunct hedge fund Three Arrows Capital<\/a>, Voyager halted withdrawals in July and filed for bankruptcy. <\/p>\n\n\n\n

In October, it previously reported that ailing cryptocurrency exchange FTX US\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> had received a bid of $1.4 billion for the assets of Voyager. The previous agreement allowed for the full payment of senior claims and the recovery of about 72% of the account value for unsecured creditors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Voyager Digital, the bankrupt crypto lender, said Binance.US has agreed to buy its assets for $1.022 billion. In accordance with a fresh press release released on December 19, the cryptocurrency exchange Binance.US will pay $1.022 billion to buy the assets of the defunct lender Voyager Digital. The company said that Binance.US represented the “highest and […]<\/p>\n","protected":false},"author":43,"featured_media":42360,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[834],"tags":[1747],"class_list":["post-42358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-binance","tag-binance-us-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/12\/20221219_195840_0000.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/42358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=42358"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/42358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/42360"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=42358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=42358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=42358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}