Binance's US unit gets court approval to move forward with $1 billion bid for bankrupt crypto lender Voyager's assets
Bankrupt crypto lender Voyager Digital has won initial court approval to sell assets to the US arm of Binance, allowing the cryptocurrency exchange to move ahead with its planned $1 billion agreement.
The proposed buyout includes a $20 million cash payment and an agreement to transfer Voyager's customers to the crypto exchange, Voyager attorney Joshua Sussberg told the United States Bankruptcy Court for the Southern District of New York in a Tuesday hearing,Sussberg also told the court Voyager plans to address any issues that would lead to opposition to the deal by the US Committee on Foreign Investment in the United States.
Binance's worldwide operations are owned by Chinese-Canadian billionaire Changpeng"CZ" Zhao. He has previously said Binance.US is a fully independent entity based in California.on the sale of its assets to Binance.US. Voyager Digital filed for bankruptcy protection in July 2022 after the crash of the crypto coins TerraUSD and Luna. Binance.US pursued Voyager's assets after a deal to sell them to FTX for $1.4 billion fell through after FTX collapsed in November.
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