Binance.US is one step closer to acquiring the recent fast-growing crypto company Voyager Digital.
According to the report of Archyde.com Voyager Digital won preliminary court approval for a $1 billion asset sale to Binance.US and said it would seek to speed up its national security assessment of the United States. for the proposed deal
During a hearing Tuesday followingnoon, U.S. District Judge Michael Wiles of the Bankruptcy Court for the Southern District of New York approved the necessary documents outlining the features of the proposed sale of Voyager Digital’s assets, but asked for amendments. order document before he endorse
The SEC opposes the proposal.
Voyager Legal Counsel Joshua Sussberg revealed the agreement between Binance.US and Voyager involves a $20 million cash payment and a commitment to migrate Voyager customer data to the Binance.US crypto exchange.
The $20 million deal is unchanged for both parties. At the end of the offer, Binance will increase its market share on the crypto exchange, and if Voyager Digital customers agree to the deal. Platform users will increase.
Voyager Digital, on the other hand, will have the cash needed to pay off some of its debt restructuring due to the nature of the Chapter 11 bankruptcy. However, the deal will only go through if both Wiles and Voyager creditors approve the deal. this
Securities and Exchange Commission (SEC), government agency, US trustee office And the private sector opposes all of Binance.US’ proposals, stating that it will assess transactions conducted by lenders. That means the deal won’t expire until a court hearing on or around March 2, 2023.
What does this mean for BNB?
BNB, the native token of the Binance exchange, might see a significant increase if all goes according to plan. Data from CoinGecko shows that BNB is up 12% since the start of the year.
However, with Zhao allegedly manipulating the price of BNB, we may see a slight shift in investor sentiment.
