Binance.US, the U.S. arm of Binance (BNB-USD), is in the news today after the crypto exchange agreed to acquire digital assets from Voyager Digital (OTCMKTS:VYGVQ).
Let’s go over everything investors need to know about this news below!
Details of the Binance.US-Voyager Deal
- First off, Binance isn’t the first company to try and buy bankrupt Voyager’s digital assets.
- FTX was the first to try and acquire these assets, but the auction was restarted after that crypto exchange filed for bankruptcy as well.
- This has Binance.US stepping up to purchase Voyager’s digital assets for a total of around $1 billion.
- That’s below the $1.4 billion that FTX was originally planning to pay for the assets.
- When the purchase is complete, Voyager users will be able to access their digital assets through the Binance.US platform.
- The details of the deal show Binance is paying a fair market value for Voyager’s assets, as well as an incremental $20 million.
- Crypto traders watching the deal will note this is much less than what FTX was offering, which Voyager had previously called a “low-ball bid.”
- It also bears mentioning that Binance wasn’t the only company bidding on the digital assets.
- CrossTower and others were among those trying to acquire the crypto exchange’s assets.
- It’s unclear when the bid will close and Binance.US will acquire the digital assets from Voyager.
Crypto traders looking for more of the most recent market news will want to keep reading!
We’ve got all of the hottest crypto news that traders need to know about on Monday! Among that is what has Greenidge Generation (NASDAQ:GREE) stock rising today, as well as the latest on Trump NFTs and Coinbase (NASDAQ:COIN). You can find out more on these matters at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
