Cryptocurrency exchange Binance US has offered the best conditions for the buyback of Voyager Digital assets – the transaction should be closed by April 18, 2023.
The US subsidiary of the Binance cryptocurrency exchange has won a tender to acquire the assets of a bankrupt crypto lender worth more than $1 billion. Voyager said that Binance US’s offer has been the best so far. A buyback date has not yet been set, but Binance decided to add an additional $20 million to the amount as a bonus.
Claims against the hedge fund Three Arrows Capital (3AC) have not gone away, and any funds received by the company will go towards reimbursing creditors. Binance US’s application reportedly seeks to return assets to customers in kind, in accordance with court-approved payouts and the platform’s capabilities.
Binance, to confirm the seriousness of its intentions, agreed to make a deposit of $10 million, as well as reimburse Voyager for $15 million of expenses. In early January, the Bankruptcy Court will hold hearings to approve the transaction, and by mid-April it should be closed.
At the end of September, Voyager Digital published a plan to compensate for losses through the distribution of proceeds from the sale of the company – the firm’s legal adviser submitted it for approval by the bankruptcy commission.
