The deal between Binance and Voyager to purchase the latter’s assets, which was valued at over $1 billion, was disclosed in a press release on 19 December. The cryptocurrency portfolio of Voyager, with a market worth of over $1.002 billion at the time of the transaction, will be acquired by Binance US, the U.S. division of Binance Global, with $20 million in added value.
Although Binance US was announced as the successful bidder, the transaction would not be finalized until 5 January, when Voyager’s request for the Bankruptcy Court’s approval was granted.
The project and the crypto industry at large may benefit from Binance’s acquisition of Voyager. This opinion is supported by the fact that Voyager–a leading cryptocurrency lender until it capitulated–is merging with Binance to become its lending division. This might broaden both parties’ clientele and sources of income.
Additionally, if consumer trust in the business is restored, it will be possible to invest additional funds into the cryptocurrency market. The end outcome would positively impact the crypto space, not just an exchange asset like BNB.
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