Binance.US has introduced its acquisition of the crypto property and buyer deposits of Voyager Digital for a sum of $1.02 billion.
This acquisition follows the failed FTX-Voyager acquisition earlier this 12 months, which was disrupted by FTX’s collapse and the arrest of its CEO, Sam Bankman-Fried.
In line with a press launch from Voyager, Binance.US’s supply represented “the very best and finest bid for its property after a evaluation of strategic choices with the core goal of maximizing the worth returned to prospects and different collectors on an expedited timeframe.”
Binance.US is nominally unbiased of the worldwide Binance enterprise, which was based by CEO Changpeng “CZ” Zhao in 2017 and had over 1 million US customers inside 5 months. In 2019, Binance.US was established as a “regulatory inquiry clearing home” to handle issues from federal regulators.
Voyager Digital filed for chapter safety in July of this 12 months after defaulting on a mortgage from crypto hedge fund Three Arrows Capital. On the time of submitting, Voyager had roughly $1.3 billion in property and was owed over $650 million by Three Arrows, in comparison with $5.8 billion in property on the finish of 2021.
The acquisition by Binance.US brings some much-needed readability for the greater than 1.7 million Voyager customers who had been ready to search out out what would occur to their crypto. It’s not but clear how the acquisition could influence Binance’s stake within the FTX-Alameda chapter.