Binance US To Buy Bankrupt Voyager Digital's Assets for $1 Billion

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?

Fake or real money?

[gweihir]

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?

[todmanic]

What a puppet show, moving fake money from place to place as if bits on a server were actual currency. It's worthless all the way down, all fake digital turtles. Just wave a white flag and inform the griftees they've been had and let the lawsuits begin. Run to the Bahamas, fake crypto bros.

Re:

[ceoyoyo]

I don't think bankruptcy courts take crypto.

Overpriced

[gosso920]

I wouldn't pay more than ten bucks for their "assets"

Re:

[tokul]

> 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

[JKanoock]

The Loch Ness Monster probably.

Solid hand or bluff?

[quantaman]

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:

[BeepBoopBeep]

FTX attempted to buy off dead losers, to hide liabilities. Binance did get $2bn in real cash from FTX before FTX collapsed, I am assuming the Voyager bankrupcty team wants real cash in this event.

Re:

[rsilvergun]

My guess is they're trying to prop up the entire industry. Every time one of these exchanges collapses the price of Bitcoin goes down. Bitcoin basically buttresses the entire scam.

Few more regulations around money laundering customer and round Ponzi schemes and this whole mess is over with a limited amount of damage

Re:

[vlad30]

Real Money was paid to the exchanges in return for crypto which has zero real value. the best part of this Ponzi scheme is that when the "investors" lose their money by extracting the value as it goes down the billions in real cash left over int he exchanges account get shared/disappear when the company is closed. essentially they have been waiting for the value to go down faster than "investors" can withdraw and block withdrawals to maximise their take. essentially a massive short on bitcoin is what they d

WTFinance

[OfMiceAndMenus]

I admittedly don't follow a lot of these big crypto market shifts, but what is the point of this? Does Voyager have some kind of IP that Binance wants? Do they have staff they want help from or special customers they want on board?

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

[awwshit]

Binance wants to be the biggest junkyard.