Crypto firm Voyager Digital is selling its assets to Binance.US in a deal worth around $1 billion

Binance.US, based in Palo Alto, California, will make a $10 million deposit and reimburse Voyager for certain expenses up to $15 million

The purchase price includes $20 million and repayments to Voyager's customers, while most of the $1 billion valuation consists of debt Voyager owes to clients

 The crypto industry has faced significant challenges this year, with nearly $2 trillion in value wiped out due to rising interest rates and economic concerns

 Some key players, such as Three Arrows Capital and Celsius Network, have struggled as a result

FTX, a major crypto exchange, filed for bankruptcy protection last month, leading to increased regulatory scrutiny and concerns about the future of the industry

 Voyager announced in September that FTX won an auction for its assets in a bid worth approximately $1.42 billion after Voyager filed for Chapter 11 bankruptcy protection in July

Voyager will seek Bankruptcy Court approval for the deal with Binance.US at a hearing on January 5, 2023

 FTX CEO Bankman-Fried stepped down after traders pulled billions from the platform in three days and Binance abandoned a rescue deal

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