Voyager Digital Holdings, Inc. filed a notice for the selection of Successful Bidder in the US Bankruptcy Court for the sale of substantially all its assets on December 19, 2022. As a result of the auction conducted on August 29, 2022, BAM Trading Services Inc. d/b/a Binance.US has been selected as the winning bidder for the sale of debtor's substantially all its assets. As per the agreement dated December 18, 2022, the seller agreed to acquire the assets for $20 million in cash along with assumed liabilities.

Under the terms of the asset purchase agreement, the buyer has made an earnest money deposit of $10 million upon the execution of the agreement. The proceeds from the sale would be used to pay off the amount owed to the debtor's pre-petition lender The buyer is represented by Robert M. Katz, Daniel Mun, Adam J. Goldberg and Andrew D. Sorkin of Latham & Watkins LLP as its legal advisors. The sale hearing shall be held on January 5, 2023.