Voyager Digital : Binance US buyout approved by New York bankruptcy court
Crypto winter

Voyager Digital : Binance US buyout approved by New York bankruptcy court

According to a report by Reuters, US Bankruptcy Court Judge Michael Wiles in New York has approved the buyout of Voyager Digital (VGX) by Binance US.

As a reminder, last September, cryptocurrency exchange FTX won Voyager Digital’s assets at auction following the company’s bankruptcy a few weeks earlier. Unfortunately, FTX’s bankruptcy led to the cancellation of that sale and Voyager had little choice but to re-launch the bidding process for the acquisition of its company. Finally, the bidding process was completed on December 19 and Binance.US came in with the highest bid of approximately $1 billion.

Good news for Voyager Digital customers

During the hearing, however, the judge asked the lawyers to review the documents presented before giving final approval at a future hearing.

A buyout agreement that will also have to be approved by the majority of Voyager Digital’s creditors, which was initially supposed to be taken over by FTX now in bankruptcy.

This is good news for Binance as the US Securities and Exchange Commission (SEC) recently objected to the acquisition by filing a “limited objection” with the court in charge of Voyager Digital’s bankruptcy proceedings, click here to read more.

Good news also for Voyager Digital customers who are waiting to get their funds back that have been blocked for months on the crypto platform in serious financial trouble.

Article written by:

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.

Join the discussion

  1. Pingback: Binance’s takeover of crypto lender Voyager approved - Trending Crypto News

  2. Pingback: Binance US finally gets to buy Voyager Digital - Trending Crypto News

Comments are now closed.
back to top