
Binance US To Buy Bankrupt Voyager Digital's Assets for $1 Billion (bloomberg.com) 14
Binance US will buy Voyager Digital's assets out of bankruptcy in a deal worth $1.022 billion. From a report: Voyager selected Binance US as the highest and best bidder after reviewing options, the company said in a statement Monday. The bid "sets a clear path forward for Voyager customer funds to be unlocked as soon as possible," according to the statement, and the company will aim to return crypto to its customers in kind. The deal values Voyager's crypto portfolio at just over $1 billion, and includes another $20 million for "incremental value." Further reading: Binance's books are a black box, filings show, as it tries to rally confidence.
As crypto auditors call it quits, what will take their place?
As crypto auditors call it quits, what will take their place?
Fake or real money? (Score:3, Interesting)
The original article is behind a wall so I could not check. My guess is it will be a "pretend" billion only, so essentially worth nothing.
Re: Fake or real money? (Score:1)
Re: (Score:2)
I don't think bankruptcy courts take crypto.
Overpriced (Score:3)
Re: (Score:1)
> I wouldn't pay more than ten bucks for their "assets"
They are not paying ten bucks either. They are paying with crypto that they value as one billion bucks.
I'll give you Three Fiddy (Score:2)
Solid hand or bluff? (Score:4, Interesting)
Is Binance doing this because their business is in great shape and they can afford to spend $1B on a good deal.
Or are they doing this because they're in trouble and trying to convince investors that they're in great shape and can afford to spend $1B on a good deal.
Re: (Score:2)
Re: (Score:2)
Few more regulations around money laundering customer and round Ponzi schemes and this whole mess is over with a limited amount of damage
Re: (Score:2)
WTFinance (Score:2)
If not, it makes so little sense for a company to spend $1bil on a company so they can... pay back their users money that is frozen and likely not there due to bankruptcy?
Looks like a company buying another company to pay off its debts, which makes so little sense.
junkyard (Score:3, Funny)
Binance wants to be the biggest junkyard.