Binance US Bid To Acquire Voyager Takes A Step Forward
January 11, 2023
Story: Divya Sinha
As per the reports, on Tuesday bankrupt Voyager received its initial court approval for a proposed sale of its assets to Binance US.
In addition, Voyager seeks to expedite a US national security review of the deal.
US Bankruptcy Judge Michael Wiles has approved Voyager to enter into the asset purchase agreement with Binance.US and also obtain creditor votes on the sale.
However, this is not being considered final until a court hearing takes place in the future.
Joshua Sussberg, Voyager’s attorney is responding to concerns that would lead US Committee on Foreign Investment in the United States (CFIUS) to oppose the transaction.
Learn more Sussberg added, the deal includes $20 million cash payment and transfer of Voyager customers to Binance US. Also, customers can first withdraw money in July. Voyager estimates that this deal will allow customers to recover 51% of the value of their deposits at the time Voyager filed for bankruptcy. Read More Crypto Stories