Business News

Binance.US received initial approval for its acquisition of Voyager’s assets

According to Reuters, after facing opposition from the SEC and other regulatory institutions, U.S. Bankruptcy Judge Michael Wiles finally gave his initial approval on the $1-billion acquisition deal of Voyager’s assets by Binance. Voyager will now have to ask its creditors to vote on the deal, before it is finally approved in a court hearing.

The acquisition deal includes a cash settlement of $20 million, which will help Voyager pay off debts incurred by the bankruptcy proceedings. Voyager’s customers will also see their accounts transferred to Binance.US.
According to Voyager, this deal could help customers get as much as 51% of the value of their deposits at the time of the bankruptcy filing in July.
FTX was initially supposed to acquire Voyager’s assets, it had already received initial approval from the bankruptcy court. However, the deal couldn’t go through as FTX went bankrupt only three weeks after the approval.

Stay ahead of the game with our Crypto News.
Boost your knowledge about Crypto with our Crypto Encyclopedia.


Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.
Back to top button