Binance.US to acquire Voyager Digital assets

The American unit of Binance offered the highest price for the assets bankrupt lender Voyager Digital. говорится in the press release.

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According to the release, the exchange’s bid “sets a clear path for the fastest possible unblocking of Voyager customers’ funds.” The fair value of the assets was pegged at $1.002 billion, with another $20 million reserved for a potential upward revaluation.

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“Binance.US will diligently contribute a $10 million deposit and reimburse Voyager for certain expenses of $15 million,” the release states.

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The deal is planned to close by 18 April 2023, with a one-month extension. At the bankruptcy court hearing on January 5, the broker intends to obtain approval of the asset-sale agreement.

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“Our goal is simple — to return users their cryptocurrencies in the shortest possible time,” подчеркнул Brian Schroeder, head of Binance.US.

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On July 5, Voyager Digital filed for bankruptcy. The company cited total obligations ranging from $1 billion to $10 billion.

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The broker is one of the creditors of the hedge fund Three Arrows Capital. The latter failed to repay a debt of 15 250 BTC and 350 million USDC, so in June Voyager Digital sent it a default notice.

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In September, Sam Bankman-Fried’s FTX won the auction for the sale of assets, offering about $1.4 billion.

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Later Voyager reached a preliminary agreement with the exchange’s U.S. unit. The deal envisaged returning to customers 72% of the value of their assets.

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At that time, FTX US offered better terms than Binance.US. The media reported that the latter’s participation was in question due to “xenophobia” and concerns over national security.

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After FTX Group filed for bankruptcy, Voyager Digital announced the restart of the auction and willingness to negotiate terms with potential buyers.

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Earlier in the month, Binance CEO Changpeng Zhao confirmed that the company’s U.S. arm would participate in a new auction to buy the creditor’s assets.

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