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Gungun Bhatia
Dec 20, 2022
by Gungun Bhatia

Voyager Announces Agreement for BinanceUS to Acquire Its Assets

Voyager BinanceUS

Table of contents

  1. Voyager Proposal for BinanceUS to Refund Crypto
  2. Reimbursements to Voyager
Voyager Digital, a failed cryptocurrency lender, was cited by Binance. According to the corporation, BinanceUS has agreed to purchase its assets for $1.022 billion. In addition to the special attention of $20 million in marginal benefit, the bid reflects the fair market value of Voyager's cryptocurrency holdings, which have a market capitalization of around $1.002 billion at the moment.

Voyager Proposal for BinanceUS to Refund Crypto

Voyager stated in the announcement that the BinanceUS proposal aspires to refund cryptocurrency to clients in kind, in compliance with judicial disbursements and platform abilities.

Last month, Changpeng "CZ" Zhao, CEO of Binance, said that the exchange's American division would make a new offer for Voyager Digital. Binance is considering a proposal for the assets of the insolvent cryptocurrency lender, according to a previous report.

Reimbursements to Voyager

BinanceUS will provide a $10 million fair and reasonable deposit and would pay up to $15 million in reimbursements to Voyager for certain costs. Additionally, Voyager will ask the bankruptcy court for permission during a hearing on January 5, 2023.

Voyager, which filed for bankruptcy earlier this year, had agreed to hand over its assets to the now-defunct cryptocurrency exchange FTX, which prevailed over rivals Wave Financial and Binance to acquire the assets. Voyager Digital's native token, VGX, surged over 32% after Binance won the deal. At the time of writing, the price of VGX was around 38 cents. In response to the announcement, Binance's BNB coin increased by more than 1%, trading at $250.

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Cryptocurrency Binance Changpeng CZ Zhao Voyager Digital BinanceUS
Voyager Announces Agreement for BinanceUS to Acquire Its Assets
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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