Binance.US to Rescue Voyager with $1.3 Billion Asset Acquisition
Voyager, a crypto credit company, has received approval for its long-awaited restructuring plan from a federal US bankruptcy court, with Binance.US stepping in as the expected financial savior.
According to multiple reports, Binance.US has agreed to acquire Voyager’s assets for $1.3 billion, which is the bulk of the deal’s valuation.
Voyager’s creditors, which include retail customers whose assets have been locked up on the platform since 2022, have been pushing for a settlement, but objections from regulators have complicated the bankruptcy proceedings.
Binance.US had reached a tentative agreement in December 2022 to purchase Voyager outright for $1.022 billion, but the SEC intervened and delayed the proceedings.
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The regulatory concerns raised by the SEC led to the current deal, which still needs to be finalized. Voyager’s VGX token saw a 40% increase in value when news of the original agreement with Binance.US surfaced, but the token’s gains were short-lived.
When news of the new deal emerged, VGX rose 25.8% on Tuesday, but it remains to be seen if the deal will go through.
In the aftermath of the major crypto tokens crash of TerraUSD and Luna, Voyager filed for bankruptcy in July, several months later.
Voyager believes that the sale will enable its customers to retrieve 73% of their deposit’s worth at the point of Voyager’s bankruptcy filing.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
