As per a recent announcement by Voyager Digital, the US arm of Binance, the world’s largest cryptocurrency exchange has agreed to buy the insolvent crypto lender Voyager Digital.
The deal which is worth close to $1.022 billion with an additional consideration of $20 million in incremental value represents the fair market value of the portfolio of the bankrupt crypto lender Voyager.
“The Binance.US bid aims to return crypto to customers in kind, in accordance with court-approved disbursements and platform capabilities,” Voyager said in the statement.
Last month, Binance’s CEO revealed that Binance.US will be making a new bid for the lending firm Voyager Digital.
The report added that Binance.US will make a good faith deposit of $10 million and will reimburse Voyager for certain expenses up to $15 million. Voyager will also seek the approval of the bankruptcy court at a hearing early next month.
Following the report, Voyager Digital’s native token soars by over 32%, as of press time, VGX is trading at $0.38504, according to Coingecko, furthermore, Binance BNB also responded after soaring by over 1% just after the news broke out.
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