Thai Banking Giant KBank Acquires Crypto Exchange Satang
- One of the largest banks in Thailand, Kasikornbank (KBank), acquired local crypto exchange Satang for $103 million only a month after setting-up a $100 million fund for web3, fintech, and AI.
- Once the acquisition has been completed, KBank plans to rebrand Satan to Orbix, and separate the business into three divisions, a custody platform, crypto venture arm, and blockchain development.
October 30, 2023, 12:50 PM
Shutterstock
Binance Sells Russian Business, to Exit Country
- The popular crypto exchange has decided to sell its business in Russia to CommEX, a crypto exchange business that was officially launched on Tuesday.
- Binance noted that it will fully exit the Russian market, and have no ongoing revenue split or any option to buy back shares in the business.
September 27, 2023, 12:15 PM
Shutterstock
Celsius Reaches Settlement With Series B Holders Over $25M GK8 Sale
- The bankrupt crypto lender has agreed on a settlement with its Series B holders on how to distribute the $25 million from the sale of self-custody platform GK8.
- The majority of funds, $24 million, will be allocated for legal expenses, while the remaining $1 million will be distributed between the Series B holders.
July 18, 2023, 10:51 AM
Shutterstock
Binance to Begin Operations in Japan After June
- There is still no official date for when Binance will re-enter the Japanese market, but Sakura Exchange BitCoin (SEBC) will close doors on 31 May, and reopen as Binance Japan sometime after June.
- Customers in Japan who wished to continue using the exchange under the Binance name will have to undergo new identity verification and KYC checks.
April 28, 2023, 4:17 PM
Shutterstock
Mar 20, 2023
Signature Bank’s Non-Crypto Deposits Sold to Flagstar Bank
- 40 branches of Signature Bank will be reopened and operated as Flagstar Bank after it acquires $38.5 billion in non-crypto deposits and $12.9 billion in loans.
- The FDIC confirmed that the $4 billion in Signature Bank crypto deposits will be directly returned to customers who had opened a digital asset banking account.
Mar 16, 2023
Judge Denies Government’s Request to Pause Voyager-Binance Deal
- A bankruptcy judge has denied the government’s request to halt the deal between Voyager and Binance, arguing that further delays would only harm customers.
- The government argued the deal should be amended, or struck down, because it seeks to effectively absolve Voyager and its staff of violations of tax or securities law.
Mar 8, 2023
Voyager Digital Receives Court Approval to Sale Assets to Binance.US
- Bankruptcy Judge Michael Wiles gave Voyager the permission to close its $1 billion deal with Binance.US, and issue repayment tokens to affected customers.
- Judge Wiles also rejected the SEC’s arguments that the deal could potentially violate U.S. securities laws, and criticized the regulator for attacking the sale without first concluding if it was illegal.
Mar 1, 2023
97% of Voyager Customers Agree to Restructuring Plan With Binance.US
- 59,183 out of 61,300 Voyager account holders voted in favor of the restructuring plan that will see Binance.US acquire Voyager’s assets for a little over $1 billion.
- Voyager Digital is now expected to appear at a bankruptcy hearing on Thursday in order to seek court approval to proceed with the deal.
Feb 3, 2023
Binance Acquires Majority Stake in GOPAX, Re-Enters South Korean Market
- Acquiring a majority stake in the GOPAX crypto exchange will allow Binance to re-enter the South Korean market, two years after it left.
- The funds for the acquisition came from Binance’s Industry Recovery Initiative, and will be used to enable customer withdrawals and interest payments on GOPAX.
Jan 11, 2023
Judge Gives Initial Approval for Binance.US to Acquire Voyager’s Assets
- Bankrupt crypto lender Voyager Digital has received an initial approval from the bankruptcy court to sell its assets to Binance.US for a little over $1 billion.
- The deal, however, still requires approval from a majority of Voyager’s creditors, and is subject to another confirmation hearing scheduled for March.