Saturday, April 1, 2023

Voyager: Binance.US Would Acquire Assets Estimated at $1.002B

  • Binance.US is set to acquire Voyager Digital`s assets approximated at $1.002 Billion.
  • The agreement will go through with permission from the bankruptcy court.
  • FTX had previously won the bid to acquire Voyager before its collapse.

A recent declaration made in Twitter by Voyager Digital, a crypto brokerage firm that has since closed its doors, indicates that Binance.US would buy its assets. More specifically, it is estimated that Vogaer’s assets have a worth of $1.002 billion based on the values of the present market.

Furthermore, Voyager said that Binance.US intends to pay a further $10 million “good faith deposit” and cover other expenditures with a total value of $15 million.

According to Voyager’s remarks, the Binance.US proposal “provides a clear route ahead for Voyager client assets to be freed as soon as feasible.” Voyager promised that the offer will restore clients’ crypto assets to them, in accordance with the court-approved disbursements and based on the platform’s capabilities.

Binance.US CEO and President, Brian Shroder assured:

Our bid is a reflection of our guiding principle that customers should come first. Our goal is simple: return users their cryptocurrencies on the fastest timeline possible.

Concurrently, Voyager Digital LLC will request permission from the bankruptcy court to engage in the agreement with Binance.US at the hearing which will take place next year. The transaction with Binance.US would be carried out according to a Chapter 11, which is open to questioning by the company’s creditors.

However, this is not the first time companies are bidding for Voyager digital assets. At the end of September, the now-bankrupt cryptocurrency exchange FTX won the bid for bankrupt crypto lender assets.

At the reported time, the price was determined by taking into account the future crypto market value of Voyager. This was estimated to be $1.311 billion, with an “incremental value” of $111 million.

  • Binance.US is set to acquire Voyager Digital`s assets approximated at $1.002 Billion.
  • The agreement will go through with permission from the bankruptcy court.
  • FTX had previously won the bid to acquire Voyager before its collapse.

A recent declaration made in Twitter by Voyager Digital, a crypto brokerage firm that has since closed its doors, indicates that Binance.US would buy its assets. More specifically, it is estimated that Vogaer’s assets have a worth of $1.002 billion based on the values of the present market.

Furthermore, Voyager said that Binance.US intends to pay a further $10 million “good faith deposit” and cover other expenditures with a total value of $15 million.

According to Voyager’s remarks, the Binance.US proposal “provides a clear route ahead for Voyager client assets to be freed as soon as feasible.” Voyager promised that the offer will restore clients’ crypto assets to them, in accordance with the court-approved disbursements and based on the platform’s capabilities.

Binance.US CEO and President, Brian Shroder assured:

Our bid is a reflection of our guiding principle that customers should come first. Our goal is simple: return users their cryptocurrencies on the fastest timeline possible.

Concurrently, Voyager Digital LLC will request permission from the bankruptcy court to engage in the agreement with Binance.US at the hearing which will take place next year. The transaction with Binance.US would be carried out according to a Chapter 11, which is open to questioning by the company’s creditors.

However, this is not the first time companies are bidding for Voyager digital assets. At the end of September, the now-bankrupt cryptocurrency exchange FTX won the bid for bankrupt crypto lender assets.

At the reported time, the price was determined by taking into account the future crypto market value of Voyager. This was estimated to be $1.311 billion, with an “incremental value” of $111 million.

 

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