Binance.US Acquires $10,000,000 of Voyager Digital Assets

Binance US has issued a press release announcing a $10,000,000 contribution to Voyager Digital's assets. Thus, the exchange can contribute to the speedy unlocking of funds for Voyager customers. The assets were valued at $1,002,000,000. In addition, another $20,000,000 was included in the deal as a possible positive revaluation.

In a press release, Binance.US said they would reimburse Voyager for some of the $15,000,000 costs, and the deal could be closed by April 18 next year.

Although the dates have been clearly set, however, they can be moved to May 18 if necessary. January 5 will be a hearing on the case of financial insufficiency Voyager. Representatives of the cryptocurrency platform want to get the judges to approve the agreement on the sale of their assets.

On July 5, Voyager Digital was declared bankrupt and the company filed a corresponding application for registration of its financial insufficiency. The application indicated total debt obligations ranging between $1,000,000,000 and $10,000,000,000.

Notably, Voyager Digital suffered from the fall of Three Arrows Capital. For the latter, Voyager was one of the creditors, while 3AC failed to repay its obligations of 15,250 BTC and $350,000,000 USD Coin, which led to the bankruptcy of Voyager Digital. In June, the creditor sent representatives of Three Arrows Capital a statement of default.

FTX won an auction in September to sell Voyager's assets, offering about $1,400,000,000 for them. As a result of such an event, the cryptocurrency exchange was able to reach a preliminary agreement and wanted to return 72% of the assets to customers.

A month later, FTX filed for bankruptcy and Voyager Digital was forced to restart the auction of its assets and negotiate new terms with potential buyers. Binance owner Changpeng Zhao announced in November that Binance.US was planning to participate in a new auction.

Earlier, the US division of the Hong Kong exchange decided to give FTX in the September auction, and the situation was aggravated by distrust of them from the point of view of national security.