Binance.US Buys Assets Of A Bangkrut Crypto Company, Voyager Assessing IDR 15.7 Trillion

JAKARTA The world's largest crypto trading company by trading volume, Binance, officially acquired a bankrupt Voyager Digital asset. Voyager is a crypto lending company that was affected by the collapse of Terra LUNA last May.

Voyager filed for bankruptcy in July 2022. In addition, Voyager also has a debt to Sam Bankman-Fried's company, Alameda Research, amounting to USD 75 million. TechCrunch reports Voyager is suspected of owning assets of around USD 1 billion to USD 10 billion in crypto assets and more than 100,000 creditors.

According to a Coingape report, last Monday crypto lender Voyager Digital announced that it was selling its assets to Binance after the exchange made the highest offer. The purchase helped and intensified Voyager in its bid to unlock customer funds.

The asset deal is worth around $1 billion, Voyager said in a statement. However, crypto lenders still have to face legal obligations regarding the withdrawal of their consumer funds. The asset refund process will be carried out in accordance with court-approved disbursement and platform capabilities, he said.

"Voyager Digital chose the US exchange Binance.US as the highest and best offering for its assets after a review of strategic options with the core goal of maximizing the value returned to customers and other creditors over an accelerated period of time," Voyager said.

Based on a report from LiveMint, Binance.US' agreement appreciates Voyager's crypto portfolio of more than $1 billion at current market prices and includes 20 million other "additional values". Sales follow legal rules with court approval. The trial is scheduled to take place on January 5.

For information, Binance.US is a crypto exchange company that stands alone and has a separate legal entity with Binance.com. Binance.US is led by CEO Brian Shroder. While Binance.com is led by CEO Changpeng Zhao.