Binance. US has revealed its plans to acquire bankrupt crypto lender Voyager Digital, which is valued at about USD 1 billion.

However, since Voyager’s valuation is made up largely of its liabilities to its clients, Binance. US will not pay this sum in order to take over the company. Instead, Binance.

US will make a deposit of USD 10 million and will reimburse Voyager for certain expenses up to USD 15 million according to cryptonews. com. According to the same source, the total purchase price will amount to USD 20 million, but Binance.

US will still have to take care of repayments for Voyager’s customers after the deal closes. Voyager has 3. 5 million customer accounts, and it will be up to Binance.

US to keep them as well as their assets on the platform following the takeover. Representatives from Binance. US revealed that Voyager users will be able to access their crypto directly from Binance.

US’s platform once the deal goes through. They also revealed their plans to return users their cryptocurrency on the fastest timeline possible. In order to move forward with the deal, Voyager Digital will seek approval from the Bankruptcy Court during a hearing scheduled for 5 January 2023.

Other developments from Binance Considering the current state of the crypto market and the billions of dollars worth of customer withdrawals at Binance, the move to acquire another company at this time might have taken some people by surprise. However, Binance’s CEO maintains that his company is presently in a strong financial position. According to his statements in recent TV interviews, no amount of customer withdrawals can threaten the exchange, since all customer deposits are held one-to-one.

In December 2022, Binance also finalised the acquisition of Indonesian crypto trading company Tokocrypt, for which they have been a major shareholder from the very beginning. Yudhono Rawis, Tokocrypto’s interim CEO, said that given the uncertain macroeconomic conditions, the company will need to engage in downsizing. The exchange’s vice president of corporate communications, Rieka Handayani, said that an employee adjustment of around 58% is expected.

More information about Binance. US According to investopedia. com, the Binance.

US cryptocurrency exchange was created by Binance and its US partner BAM Trading Services in order to serve residents of the United States. Users on the platform can buy, sell, trade, convert and stake over 120 popular cryptocurrencies, including Bitcoin, Ethereum, Solana, and Cardano. Binance.

US offers an online dashboard and mobile apps for users to manage their accounts. Both the desktop and mobile experiences are similar. Once they log into their accounts, users can view their balance, purchase history, and the devices they’ve used to log in previously.

They also have the option to deposit and withdraw funds, as well as buy, sell, and trade crypto. .