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.
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.