Binance.US Agrees To Purchase Voyager for at Least $1B

The bid, which was the highest and best offered, as per bankruptcy code, comes in at about $1.022 billion

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Binance.US has entered an agreement with Voyager to purchase the bankrupt lender for more than $1 billion, the companies announced Monday. 

The bid, which was the highest and best offered, as per bankruptcy code, comes in at about $1.022 billion. The figure represents fair market value of Voyager’s assets at current prices, plus $20 million in incremental value, Voyager noted in a statement

Voyager was originally slated to be acquired by FTX.US, the American affiliate of the now-bankrupt FTX exchange, after the lender’s assets went to auction in September. FTX.US’ offer was $1.2 billion. 

Following FTX’s collapse, Binance confirmed that its American subsidiary, Binance.US, would make its own offer. A spokesperson for Voyager declined to comment. 

“The Binance.US bid aims to return crypto to customers in kind, in accordance with court-approved disbursements and platform capabilities,” Voyager said in the statement. 

Voyager’s native token, VGX, jumped nearly 35% following news of the bid.

Binance.US will make a $10 million good faith deposit, the lender said. Voyager will seek court approval to enter the asset purchase agreement with Binance US at a hearing scheduled for Jan. 5, 2023.

This is a developing story and may be updated as new information becomes available.


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