Binance.US Agrees to Acquire Voyager Digital Assets

Vignesh Karunanidhi
Binance.US Agrees to Acquire Voyager Digital Assets
Source: CNBC

The cryptocurrency realm in 2022 was a victim of several unforeseen events and some of the most significant downfalls. Beginning with the fall of the Terra ecosystem in May and the latest downfall of the FTX exchange, several things went down this year.

The collapse of Terra and its ripples had serious effects on other firms. One of the victims was Voyager Digital. The company filed for bankruptcy, and its assets were put up for auction. Even though FTX won the bid to acquire the assets for $1.4 billion in September, that possibility has been completely erased, as FTX is not the same as before.

In one of the recent announcements, Binance US announced that Voyager Digital entered into an agreement with the exchange to acquire its assets.

Voyager Digital agrees to Binance.US’s proposal to acquire its assets

As per the details from Binance’s announcements, the exchange and Voyager Digital have come to a mutual agreement. The agreement will let the exchange acquire Voyager’s assets, and the customer funds will be soon unlocked. The funds will be released back to the user’s accounts in the same way as before.

“We hope our selection brings to an end a painful bankruptcy process which saw customers unfairly dragged into it at no fault of their own. Upon close of the deal, users will be able to seamlessly access their digital assets on the Binance.US platform where they will continue to receive future disbursements from the Voyager estate,” said Brian Shroder, Chief Executive Officer and President of Binance.US.

The asset purchase agreement will come into effect at a hearing on January 5, 2023. The announcement also asks Voyager customers to look out for emails from the company.