After long months of uncertainty, Voyager Digital has finally chosen Binance.US, the American subsidiary of Binance, to buy all of its assets. The transaction, which could exceed one billion dollars, must still be approved in bankruptcy court on January 5, 2023. It would then be a new hope for all customers harmed by the bankruptcy of Voyager Digital.
Binance.US set to acquire Voyager Digital
Travel Digital, the platform that has been bankrupt since last July, will finally have found a buyer for its assets. We learned today via an official press release that it’s Binance.US, the American subsidiary of the giant Binancewhich was chosen to buy out the assets of the brokerage firm that currently operates under U.S. Chapter 11.
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Voyager Digital Ltd. announced today that its operating company Voyager Digital LLC has selected US exchange BAM Trading Services Inc. (doing business as “Binance.US”) as the highest and best bid for its assets after a review of strategic options with the primary objective of maximizing value returned to customers and other creditors in an accelerated time frame. »
As indicated, the choice of Binance.US as buyer was motivated, according to the press release, by a substantial inflow of liquidity. which will allow the platform to repay its creditors as quickly as possible. As a reminder, the number of creditors of Voyager Digital has been estimated at more than 100,000 individuals.
Indeed, Binance.US will pay $1.022 billion for this acquisitionwhich is the current value of Voyager Digital’s wallet ($1.002 billion) plus an additional $20 million listed as “consideration.”
Now that Binance.US has been selected by Voyager Digital, the bankrupt company will have to enter into the asset purchase agreement in the relevant bankruptcy court on January 5, 2023. According to the press release, if this solution were to be accepted by the said court, the 2 entities will have to conclude the transaction as soon as possible.
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What should Voyager Digital’s creditors expect?
Subject to the acquisition being approved by the bankruptcy court, the various creditors of Voyager Digital should normally collect their immobilized cryptocurrencies on the platform in the context of its bankruptcy and lack of provision.
Binance.US CEO Brian Shroderspoke in order to clarify a few important points:
“Our offering reflects our core principle that customers come first. Our goal is simple: get users back their cryptocurrencies as quickly as possible. »
In addition, customers will normally have the option of recover said cryptocurrencies at a ratio of 1 to 1 directly on the American exchange :
“Upon closing of the agreement, users will be able to seamlessly access their digital assets on the Binance.US platform, where they will continue to receive future disbursements from Voyager. »
Finally, according to the information revealed by Brian Shroder, affected Voyager Digital customers may expect to review their cryptocurrencies from March 2023 if the transaction were to be successful.
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Source: Prof. Newswire
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