Voyager Receives Initial Approval To Sell $1 Billion In Assets To Binance.US

Binance.US moved closer to purchasing Voyager Digital, a newly bankrupt cryptocurrency startup. Reuters states that the court has given Voyager Digital preliminary approval to sell its assets to Binance for $1 billion.

The U.S. has signalled that it wants to move quickly on a national security review of the potential deal with the U.S.

Voyager will receive a $20 million cash settlement, and Binance.US will pledge to bring all of Voyager’s customers onto their platform.

Voyager’s legal counsel, Joshua Sussberg, said that the United States is home to the largest crypto exchange in the world.

However, because of the terms of Chapter 11 bankruptcy, Voyager would have access to funds to settle part of its reorganized obligations. 

SEC, state agencies, the U.S. Trustee’s office, and private parties all raised concerns about the deal. A court hearing is scheduled on March 2, so the arrangement won’t be completed until then.

According to CoinGecko’s data, BNB has gained 12% since the beginning of the year, in line with the gains of other major cryptocurrencies.

Now that Zhao has been accused of trying to artificially increase the cost of BNB, investors may be changing their minds.

A vocal opponent of Binance and crypto expert, Dylan LeClair, also investigated how the currency seems to defy market dynamics, going so far as to label BNB “disconnected from reality.”

However, BNB seems unaffected by this atmosphere of uncertainty. BNB’s rise might continue to set new highs, as the token is up 1% in the previous 24 hours.

Also Read: Major Cryptocurrency Exchange Launches XRP And Cardano (ADA) Products

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

Comments are closed.