Binance.US’ bid was the highest and best bid made in the reopened competitive bidding process. Additionally, for most customers, the Binance.US bid will return cryptocurrency to customers in kind, in accordance with court-approved disbursements and platform capabilities. It is important to note that through this plan, all customers will receive a meaningfully higher percentage of their claims than they would via liquidation.
As part of the agreement, should Voyager determine that the Binance.US transaction no longer represents the highest or otherwise best bid for Voyager’s assets or the transaction does not close by April 18, 2023, subject to a one-month extension, the agreement allows Voyager to immediately move to distribute cryptocurrency and cash to customers.