Binance’s US arm, Binance US, is indirectly investing in 17 altcoins as part of its move to buy Voyager, one of the crypto companies that went bankrupt last year. The US court gave the green light to the leading stock market for the purchase.
Binance gets approval for Voyager deal despite objections
Binance recently received the green light for a buyout deal from US bankruptcy judge Judge Michael Wiles, despite strong objections from the SEC, New Jersey and Texas regulators. The deal, which is estimated to be worth more than $1 billion, will allow BinanceUS to purchase Voyager’s assets, once approved. According to data from Lookonchain, Voyager’s crypto reserves currently total $757.8 million.
cryptocoin.com As we reported, Voyager liquidated some of its ETH and SHIBs this week. Lookonchain says that Binance has 17 altcoin projects that it will indirectly own through the remaining reserves…
1/ #Voyager keeps selling assets!#Voyager sold $56M worth of assets in the past 24 hours, including:
– 27,255 $ETH ($42M)
– 11M $VGX ($6.3M)
– 400B $SHIB ($4.4M)
– 160,000 $LINK ($1M)
…And received 33.7M $USDC from Wintermute Trading, Binance US and Coinbase. pic.twitter.com/kx6BwSg2jl
— Lookonchain (@lookonchain) March 9, 2023
Here are the altcoins that Binance will acquire as part of the Voyager acquisition
Voyager’s crypto reserves currently total $757.8 million. Among them are 3.99 trillion SHIBs, valued at $44.1 million, which are just starting to be sold. SHIB reserves; USDC ($459 million) represents the fourth largest share, below ETH ($157.7 million) and VGX ($61.6 million). Binance’s Voyager reserves of 17 altcoin projects that will get deals are as follows:
- USD Coin (UDSC): $459 million
- Ethereum (ETH): $157.7 million
- Voyager Token (VGX): $61.6 million
- Shiba Inu (SHIB): $44.1 million
- Chainlink (LINK): $8.4 million
- Decentraland (MANA): $4.9 million
- Phantom (FTM): $2.4 million
- Apecoin (APE): $2.03 million
- Sandbox (SAND): $1.9 million
- Enjin (ENJ): $1.5 million
- Uniswap (UNI): $0.91 million
- Basic Attention Token (BAT): $0.84 million
- Chiliz (CHZ): $0.80 million
- Jasmy (JASMY): $0.73 million
- Gala Games (GALA): $0.67 million
- The Graph (GRT): $0.55 million
- Aave (AAVE): $0.54 million
Voyager continues to drain its altcoin reserve
After ETH and SHIBs sold this week, new coins have been added to the list. The company’s current cryptocurrency balance follows a series of sales by Voyager as bankruptcy proceedings progress. The latest round of sales included 27,255 ETH worth $42 million, 11 million VGX worth $6.3 million, 400 billion SHIB worth $4.4 million, and 160,000 LINK worth $1 million.
1/ #Voyager keeps selling assets!#Voyager sold $56M worth of assets in the past 24 hours, including:
– 27,255 $ETH ($42M)
– 11M $VGX ($6.3M)
– 400B $SHIB ($4.4M)
– 160,000 $LINK ($1M)
…And received 33.7M $USDC from Wintermute Trading, Binance US and Coinbase. pic.twitter.com/kx6BwSg2jl
— Lookonchain (@lookonchain) March 9, 2023
Cryptocurrency investors are hoping that the company will end its sales campaign after Binance.US gets final court approval that it has completed its acquisition. Once Judge Wiles confirms the order, Binance US will have to go through a series of regulatory hurdles to ensure the deal is completed properly. Once finalized, Voyager’s clients will receive their holdings through their Binance.US account, earning an estimated return of up to 73% of their total holdings.
