A compromise has been struck with the U.S. government, according to the Official Committee of Unsecured Creditors of Voyager, the North American cryptocurrency broker that filed for bankruptcy earlier this year. Binance US will be able to purchase the insolvent broker and its digital assets thanks to the resolution.
The appeals with respect to the exculpation clause of the Plan shall be maintained pursuant to the conditions of the Agreement. The government has conceded that the plan may go on without such a clause and won’t be affected by the delay in any other way. With this choice, it is anticipated that the strategy will soon come to fruition and the purchase process will go more quickly.
Voyager presently owns stablecoins and other digital currencies worth $266.7 million, according to DeBank. One of these is the Shiba Inu token, which despite recent sales by the insolvent broker having reduced its value by half, still ranks third among all the assets in Voyager’s wallet. The wallet still contains more than 3.1 trillion SHIB.
A noteworthy event in the cryptocurrency world is Binance US’s acquisition of Voyager. One of the biggest cryptocurrency exchanges in the world, Binance US, has been growing its market share in the United States. Binance US’s presence in the market will be further bolstered by the acquisition of Voyager and its digital assets.
In addition to advancing the acquisition deal, the conclusion of the appeals and the agreement with the US government also offer relief to Voyager’s creditors.
