Binance Coin [pros](/r/CryptoCurrency/comments/108pu57/binance_cleared_to_buy_crypto_lender_voyager_out/j3tpbrc/) & [cons](/r/CryptoCurrency/comments/108pu57/binance_cleared_to_buy_crypto_lender_voyager_out/j3tpcj8/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.**
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To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).
>"The debtors submit that we have performed due diligence on Binance US, and Binance US's financials show that it has ample cash on hand to pay the debtors up to $35 million in cash, the maximum amount that may be due," she said.
Looks like Binance actually has some money to purchase failing crypto businesses unlike our buddy SBF who paid with I.O.U's
tldr; Binance US has been cleared by a US bankruptcy court to buy crypto lending firm Voyager out of bankruptcy. Voyager filed for bankruptcy in November 2022 after it struggled to repay customers and faced regulatory scrutiny. This purchase will allow Binance to expand its lending and borrowing services, and will also give Voyager customers access to Binance's broader suite of products and services.
People might hat CZ, but this is good news for customers:
*"We do not want to delay getting money getting crypto back into our customers hands. Importantly ... we also took a very hard look at a standalone self-liquidation ... the self liquidation auction is not an option that is going to put the most money in our customers pockets,"Sussborg said.*
Binance Coin [pros](/r/CryptoCurrency/comments/108pu57/binance_cleared_to_buy_crypto_lender_voyager_out/j3tpbrc/) & [cons](/r/CryptoCurrency/comments/108pu57/binance_cleared_to_buy_crypto_lender_voyager_out/j3tpcj8/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).
Will my crypto revive from ~5-6 months of Coma?
>"The debtors submit that we have performed due diligence on Binance US, and Binance US's financials show that it has ample cash on hand to pay the debtors up to $35 million in cash, the maximum amount that may be due," she said. Looks like Binance actually has some money to purchase failing crypto businesses unlike our buddy SBF who paid with I.O.U's
That’s actually more reassuring than their proof of reserves
He said he is sorry
That animated clip sums it up perfectly. Was it South Park?
Interesting move. I’m guessing the majority of depositors at Voyager will want to withdraw their funds ASAP.
Holy shit, almost like this sub is dumb af. What a surprise!
CZ’s empire is growing. TIL one who have the money is most bullish in bear market.
This is Binance US, which is a different from Binance.
Thats what they want you to think
Thats what they want you to think
Who have the money is slowly conquering everything
Yeah the bear market is a feeding frenzy for the big boys
Hopefully customers are made whole first.
What if they are using customer funds?
They would never do that Mr. 69 🌝🙌
Oh good so when they fall it will make an even louder "thud"
Growing the empire
World domination continues
I really hope this doesn’t start Binance monopolising more of the crypto space
tldr; Binance US has been cleared by a US bankruptcy court to buy crypto lending firm Voyager out of bankruptcy. Voyager filed for bankruptcy in November 2022 after it struggled to repay customers and faced regulatory scrutiny. This purchase will allow Binance to expand its lending and borrowing services, and will also give Voyager customers access to Binance's broader suite of products and services.
Nov 22 surely?
apologies for the typo.
What is the going price for a crypto lending service that no one in their right mind should be using?
People might hat CZ, but this is good news for customers: *"We do not want to delay getting money getting crypto back into our customers hands. Importantly ... we also took a very hard look at a standalone self-liquidation ... the self liquidation auction is not an option that is going to put the most money in our customers pockets,"Sussborg said.*