Voyager Digital Holdings has reportedly reached an agreement with the U.S. federal government to proceed with a $1 billion plan to sell its assets to the American arm of the crypto exchange Binance. The news was shared by the Voyager Official Committee of Unsecured Creditors (UCC) on Wednesday. According to the UCC, the government has agreed that the Binance.US acquisition of Voyager’s assets “may move forward without such provision and will not otherwise be subject to the stay.” The Committee added that together with Voyager it is seeking to help Binance.US “to move forward as quickly as possible once this stipulation is approved by the District Court.”

This deal follows the temporary halt of a previously reached agreement in March, where Binance.US was to pay $20 million in cash to Voyager and take on crypto assets deposited by the firm’s customers. Voyager has been actively working on a plan to redistribute funds to its investors since filing for bankruptcy last July. The firm previously reached an agreement with FTX for the exchange to purchase its distressed assets in September 2022, however, the deal was taken off the table after FTX declared bankruptcy and its founder was charged with multiple financial crimes.

This news is good news for Voyager investors, as the agreement with Binance.US will allow them to recoup some of the funds they invested. However, the deal is still subject to regulatory approval, including from the U.S. Securities and Exchange Commission and the Federal Trade Commission, who have raised concerns about the deal.

This is a positive development for Voyager investors, who have been seeking to recoup their funds since the firm filed for bankruptcy last July. However, the deal is still subject to regulatory approval and could be impacted by any regulatory issues faced by Binance.US.

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You can read more about this topic here: Decrypt: Bankrupt Crypto Lender Voyager Seals Fed Deal for $1 Billion Binance US Acquisition

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