TechFlow news — Regarding the process of Binance.US's acquisition of Voyager assets, the Voyager Unsecured Creditors Committee (UCC) stated on Twitter that after the bidding process concludes, stakeholders have 28 days to file objections, with the objection deadline set for February 22. The final hearing to confirm the transaction is scheduled for March 2, allowing one week to respond to any pre-hearing objections.
Additionally, the committee noted that although Binance.US has assured the UCC that transferred cryptocurrencies will be protected, given the unexpected collapse of FTX and the risks of theft and fraud in the crypto industry, the UCC is seeking stronger safeguards from Binance.US. Under the revised purchase agreement, cryptocurrencies will be transferred weekly from Voyager to Binance.US post-transaction, and these transferred cryptocurrencies will be immediately allocated to creditors' accounts.
Furthermore, in response to Twitter users’ questions about “which day’s price will be used for customer fund recovery” and “whether there is a spreadsheet to calculate individual recovery estimates,” the committee clarified that the price Binance.US will pay for Voyager’s cryptocurrencies will be determined on a future date close to the transaction closing. The fair market value of the crypto assets will determine customers’ recovery rate. Customers will receive a uniform percentage recovery regardless of the specific crypto assets they held, including USDC. Note that this recovery estimate is based on spot prices as of December 18; therefore, the actual recovery may vary depending on the value of Voyager’s cryptocurrencies at the time of transfer.
Previously, on January 11, it was reported that a U.S. court provisionally approved Binance.US's $1 billion acquisition of Voyager assets.Original link
