Binance’s American entity Binance.US has emerged as “the highest and best bid” for bankrupt Voyager’s assets. The total sum is roughly $1.022 billion, which includes the latter firm’s crypto portfolio (valued at an estimated $1.002 billion) and “additional consideration equal to $20 million in incremental value,” read the announcement. Voyager was a crypto broker that offered high-interest rates and trading across more than 50 different cryptocurrencies. Today’s announcement has identified Binance.US as the winning bidder, but the deal won’t be officially executed until the Bankruptcy Court approves Voyager’s request to do so on January 5. In its bankruptcy filing, the firm identified over 100,000 creditors. With the Binance.US bid, creditors are now a step closer to seeing some of their money returned. “We hope our selection brings to an end a painful bankruptcy process which saw customers unfairly dragged into it at no fault of their own,” Binance.US president and CEO Brian Schroder tweeted. “Our goal is simple: return users their cryptocurrency on the fastest timeline possible.”

Read more : Binance US to Acquire Bankrupt Voyager’s Assets for $1 Billion.