Voyager Digital Ltd. said Monday Binance.US offered about $1.022 billion to buy its business out of bankruptcy. The bid includes the fair market value of Voyager’s cryptocurrency portfolio at a to-be-determined date in the future, plus additional consideration equal to $20 million of incremental value. The Binance.US bid “sets a clear path forward for Voyager customer funds to be unlocked as soon as possible,” the company said. Voyager Digital LLC will seek bankruptcy court approval to enter into the asset purchase agreement between Voyager Digital LLC and Binance.US at a hearing on Jan. 5.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.