BNB

Binance.US to Buy Assets of Bankrupt Crypto Lender Voyager for $1B

by BSCN

December 19, 2022

Binance.US has reached a deal to buy the assets of bankrupt crypto firm Voyager for $1 billion, with the aim of returning funds to customers.

Crypto to be Returned to Customers

Bankrupt cryptocurrency lender Voyager announced that Binance.US will purchase its assets for $1.022 billion, with the aim to reimburse the firm’s customers.

“The Binance.US bid aims to return crypto to customers in kind, in accordance with court-approved disbursements and platform capabilities,” according to a press release from Voyager.

In a sign of how quickly the crypto sector moves, it was only a few months ago that FTX had reportedly won the bidding war against Binance for Voyager’s assets, with the winning bid at the time valued at $1.4 billion.

Since then, of course, Sam Bankman-Fried’s FTX empire has crumbled around him, resulting in him being incarcerated in the Bahamas and awaiting extradition to the U.S. where he faces multiple charges of serious financial crimes.

Binance.US President and CEO Brian Shroder elaborated upon the Voyager deal in a Twitter thread:

1/ Today, @BinanceUS was selected highest and best bid in Voyager’s reopened bankruptcy asset auction. Once the deal is completed, Voyager users will finally be able to access their digital assets on the https://t.co/Wc26vMosC4 platform.

Read: https://t.co/gBK5m3kcYn
— Brian Shroder (@BrianShroder) December 19, 2022

What is Binance.US:

Binance.US is the American arm of the world’s largest cryptocurrency exchange platform, Binance. Users on the platform can buy, sell, and trade over 60 popular crypto assets, including Ethereum (ETH), Solana (SOL), BNB Chain (BNB), and Bitcoin (BTC).