Binance US has won the bidding to acquire the assets of bankrupt crypto lender Voyager Digital for about $1.02 billion.
Voyager says it has picked Binance US as the "highest and best bid", comprising fair market value of the bankrupt firm's cryptocurrency portfolio, which at current market prices is estimated to be just over $1 billion, and another $20 million of incremental value.
The bid "sets a clear path forward for Voyager customer funds to be unlocked as soon as possible" and "aims to return crypto to customers in kind, in accordance with court-approved disbursements and platform capabilities".
Voyager filed for Chapter 11 bankruptcy protection in July, listing assets of between $1 billion and $10 billion and liabilities in the same range.
The company suffered a blow when Three Arrows Capital went a week earlier, defaulting on a loan of 15,250 BTC and $350 million USDC. Its claims relating to Three Arrows will remain as part of the bankrupt estate.
In September, FTX won the auction for Voyager's assets but that agreement fell apart when Sam Bankman-Fried's company later went bust.