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.


A U.S. court has given its initial approval for bankrupt crypto lender Voyager Digital to proceed with its proposal to sell its assets to Binance.US for a little over $1 billion, Reuters reported on 11 January.

According to the publication, Judge Michael Wiles of the U.S. Bankruptcy Court for the Southern District of New York has approved Voyager’s request to enter into an asset purchase agreement with Binance.US and seek approval from a majority of Voyager’s creditors. The deal is still not complete, however, and will be a subject to another confirmation hearing scheduled for March.

Voyager attorney Joshua Sussberg noted during the court hearing that the bankrupt crypto lender was responding to questions raised by the Committee on Foreign Investment in the United States (CFIUS), an interagency body that reviews foreign investments into U.S. companies. Sussberg said that Voyager was ready to address any concerns that could lead CFIUS to oppose the deal:

“We are coordinating with Binance and their attorneys to not only deal with that inquiry, but to voluntarily submit an application to move this process along.”

Voyager filed for Chapter 11 bankruptcy back in July, and in September agreed to sell its assets to FTX, but that deal fell apart in November when the crypto exchange collapsed. The bidding process was reopened once again, with Voyager agreeing to Binance.US’ bid to acquire its assets for $1.022 billion in December.

Last week, the U.S. Securities and Exchange Commission (SEC) filed a limited objection to the deal that questioned Binance.US’ ability to fund such a large acquisition, and called on Voyager to provide more information on what would happen should this deal fall appart as well. FTX’s sister company Alameda Research — which is also undergoing bankruptcy proceedings — also filed an objection to the deal, claiming that it “unfairly discriminates against” Alameda’s claims as it was a “substantial shareholder” of Voyager.

Related Coverage
FTX, Alameda Wallets Move $13M to Exchanges
  • A little over $13 million in altcoins were sent to crypto exchanges Binance and Coinbase in the past 24 hours, which is in accordance with a September court order.
  • The court ordered a phased liquidation process, which allows the bankruptcy estate to sell $3.4 billion worth of digital assets over a certain period of time.
November 1, 2023, 2:27 PM


Celsius Seeks Court Approval on Restructuring Plan
  • The bankrupt crypto lender said that if its reorganization plan is approved, it is ready to start repaying its customers using $2 billion in BTC and ETH by the end of the year.
  • If given the green light, Celsius will restart its business under the “NewCo” brand without any funded debt, and with seed funding of up to $450 million.
DoJ Requests SBF’s Expert Witnesses be Barred From Testifying
  • The U.S. Department of Justice has expressed its concerns over Sam Bankman-Fried’s seven expert witnesses, and requested they be barred from testifying on the case.
  • The DoJ claimed most of the proposed experts lacked the necessary foundation for their opinions, making them unqualified to be an expert witness.