Binance.US gets one step closer to acquiring Voyager’s assets and helping make users whole again.
Binance.US Deal Granted Initial Approval
Voyager Digital has been given initial judicial approval to proceed with the sale of around $1 billion worth of its bankrupt crypto ledger assets to Binance.US.
During a court hearing on Tuesday, January 10, a U.S. Bankruptcy Judge granted Voyager the ability to fulfill the sale with Binance.US. The deal will reportedly see Binance.US pay $20 million to acquire the assets.
Voyager’s sale had been delayed by probes from the Securities Exchange Commission (SEC) and the Committee on Foreign Investments in the U.S. (CFIUS). Both agencies requested further review of the matter for reasons like the validity of finances and national security concerns.
“We do not want to delay getting money, getting crypto back into our customer’s hands. Importantly … we also took a very hard look at a standalone self-liquidation … the self-liquidation auction is not an option that is going to put the most money in our customer’s pockets,” Voyager attorney Joshua Sussberg was quoted by CoinDesk.
Both Voyager and Binance US are working on completing the deal quickly to facilitate the return of lost assets to customers, which, if successful, will return 51% of assets to customers.
The deal will still not be final until the completion of further court hearings in early March 2023.
What is Binance:
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Where to find Binance:
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