Voyager can sell assets to Binance.US, judge rules

Mar. 7, 2023

By Mike Dalton

Proceeds from the deal should go toward compensating former Voyager users.

A New York bankruptcy judge has ruled that Voyager Digital is allowed to sell its assets to Binance.US, according to a report from Bloomberg on March 7.

Binance.US can buy $1 billion in assets

Judge Michael Wiles ruled that the two companies involved in the proposal can attempt to close the deal and transfer the relevant crypto assets.

Voyager must now decide whether to continue with the deal after assessing Binance.US for its level of commitment and its compliance with regulations. If the deal is successful, proceeds will be distributed to former Voyager customers. This arrangement will give customers about 73% of their amount owed due to changes in cryptocurrency market prices.

The deal is estimated to be worth more than $1 billion, though other reports from Reuters suggest that Binance has so far agreed to pay $20 million in cash.

Voyager reported on March 1 that 97% of customers have voted in favor of the plan.

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