Binance Set to Complete The Acquisition of Voyager Digital and Tokocrypto

Binance continues its acquisition spree by securing an Indonesian exchange, as it adds Voyager Digital assets to its books. The bid from Binance.US amounting to $1.022 billion, was chosen by Voyager as the highest and the best bid.

Binance is still making acquisitions despite its difficulties in locating auditors for its proof-of-reserves. In addition to Binance acquiring Indonesian crypto exchange Tokocrypto, Voyager Digital announced it would sell its assets to Binance.US.

In an announcement, Binance said it will gradually increase its stake in the Indonesian cryptocurrency exchange Tokocrypto to almost 100%. TKO, the native token of Tokocrypto, increased by over 15% after the announcement. With Tokocrypto’s purchase, Binance gained access to the first crypto asset provider to acquire permission from the national authority Bappebti.

Pang Xue Kai, a co-founder of Tokocrypto, will relinquish his role as CEO as part of the transfer. Yudhono Rawis will act as temporary CEO until the transaction is completed. However, Kai will continue to give leadership support and stay on the Tokocrypto Board of Commissioners.

Binance.US Purchases Voyager Digital

However, even as Binance is investing in and expanding businesses, it also keeps working to support the cryptocurrency sector. In order to do this, its American affiliate, Binance.US, has made a bid for the assets of the insolvent cryptocurrency lender Voyager Digital.

In a recent announcement, Voyager Digital stated that it has chosen Binance.US as the highest and best offer for its assets. After weighing its strategic choices, Voyager decided on Binance.US, the company said in the statement.

The Binance.US offer was worth about $1.022 billion. This sum consists of the assets’ existing fair market value plus $20 million in speculative appreciation. The proposal, according to Voyager, paves the way for customers’ funds to be released as quickly as possible. According to platform capabilities and court-approved payments, Binance.US stated that it seeks to repay cryptocurrency to clients in kind.

BNB Goes Up After Multiple Acquisitions

Since peaking at $398.30 on November 3, the BNB price has fallen below a declining resistance line. It produced a very lengthy upper wick that day (red icon). The negative momentum resulted in a breakdown from the $260 horizontal support region and reached a low of $220 on December 17.

Since then, the BNB price has gone up. The assets of insolvent crypto lender Voyager Digital and the recently acquired Indonesian exchange Tokocrypto may have contributed to the surge.