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News

Binance US Will Pay $1.022 Billion For Voyager Digital Assets

December 19, 2022 - Around 2 mins mins to read
On December 19, 2022, Voyager Digital Ltd., an encrypted lending platform, announced today that its operating company. And Binance US will pay $1.022 billion for Voyager Digital Assets.
Binance US Will Pay $1.022 Billion For Voyager Digital Assets

Voyager Digital Ltd., an encrypted lending platform, said today that its operating business, Voyager Digital LLC, has chosen the US exchange BAM Trading Services Inc. and best bid, with the fundamental goal of maximizing value recovered to clients and other creditors within an expedited time frame.

The Binance.US bid lays out a clear path forward to unlock Voyager customer funds as soon as possible, valued at approximately $1.022 billion, which includes I the fair market value of the firm cryptocurrency portfolio at a future date to be determined, estimated at 10.02 million at current market prices, plus (ii) additional consideration equal to a $20 million incremental value.

Binance US Will Pay $1.022 Billion For Voyager Digital Assets

The Company’s claims against Three Arrows Capital remain in the bankruptcy estate, and any future recoveries of these and other remaining claims will be distributed among creditors of the estate. Binance.US’ offer seeks to return cryptocurrencies to customers in kind based on court-approved payouts and platform capabilities.

Binance.US will make a good faith deposit of $10 million and will repay Voyager for certain expenses up to $15 million. The agreement permits the digital asset firm to take immediate action to return value to clients if the sale cannot be completed by April 18, 2023, but can be extended by one month.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Chubbi

Coincu News

News

Binance US Will Pay $1.022 Billion For Voyager Digital Assets

On December 19, 2022, Voyager Digital Ltd., an encrypted lending platform, announced today that its operating company. And Binance US will pay $1.022 billion for Voyager Digital Assets.
Binance US Will Pay $1.022 Billion For Voyager Digital Assets

Voyager Digital Ltd., an encrypted lending platform, said today that its operating business, Voyager Digital LLC, has chosen the US exchange BAM Trading Services Inc. and best bid, with the fundamental goal of maximizing value recovered to clients and other creditors within an expedited time frame.

The Binance.US bid lays out a clear path forward to unlock Voyager customer funds as soon as possible, valued at approximately $1.022 billion, which includes I the fair market value of the firm cryptocurrency portfolio at a future date to be determined, estimated at 10.02 million at current market prices, plus (ii) additional consideration equal to a $20 million incremental value.

Binance US Will Pay $1.022 Billion For Voyager Digital Assets

The Company’s claims against Three Arrows Capital remain in the bankruptcy estate, and any future recoveries of these and other remaining claims will be distributed among creditors of the estate. Binance.US’ offer seeks to return cryptocurrencies to customers in kind based on court-approved payouts and platform capabilities.

Binance.US will make a good faith deposit of $10 million and will repay Voyager for certain expenses up to $15 million. The agreement permits the digital asset firm to take immediate action to return value to clients if the sale cannot be completed by April 18, 2023, but can be extended by one month.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Chubbi

Coincu News

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