The Bank Slate


Binance agrees to buy Voyager Digital’s assets

Binance.US in Palo Alto, Calif., has agreed to buy Voyager Digital’s assets for about $1 billion.

Voyager, which has been navigating the bankruptcy process since July 5, said in a press release that Binance provided the “highest and best bid for its assets after a review of strategic options.”

Voyager said the bid “sets a clear path forward” for its customer funds to be unlocked as soon as possible. Voyager’s claims against Three Arrows Capital remain with the bankruptcy estate.

Binance.US will make a $10 million good-faith deposit and will reimburse Voyager for up to $15 million of certain expenses. If the deal fails to close by April 18, subject to a one-month extension, Voyager can immediately move to return value to customers.

Voyager said it will seek bankruptcy court approval at a Jan. 5 hearing.

Voyager was advised by Kirkland & Ellis, Moelis & Co. and Berkeley Research Group. Binance.US was advised by Latham & Watkins.

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