Voyager Digital ( OTCPK:VYGVQ ) on Monday selected Binance.US's bid for Voyager's assets, providing the "highest and best bid for its assets after a review of strategic options," it said in a statement. The value of the bid is comprised of the fair market value of Voyager's ( OTCPK:VYGVQ ) cryptocurrency portfolio at a to-be-determined date in the future, which at current prices is estimated to be $1.002B, plus an additional consideration equal to $20M. The Binance.US bid "sets a clear path forward for Voyager customer funds to be unlocked as soon as possible, Voyager said. The bid aims to return crypto to customers in kind, in line with court approved disbursements and platform capabilities. Binance.US will make a $10M good faith deposit and will reimburse Voyager ( OTCPK:VYGVQ ) for certain expenses up to $15M. Voyager Digital LLC will seek bankruptcy court approval to enter into the agreement with Binance.US at a hearing on Jan. 5, 2023. The sale to Binance.US would be executed through a Chapter 11 plan, which is subject to a creditor volte. Voyager ( OTCPK:VYGVQ ) filed for Chapter 11 bankruptcy proceedings in July 2022 after Three Arrows Capital failed to make requirement payments on a loan of bitcoins ( BTC-USD ) and USD Coins ( USDC-USD ). FTX then won an auction for Voyager , but itself filed for Chapter 11 in November after the crypto exchange suffered a liquidity crisis .
