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Here is what team Inspired Analyst has for you today:
Is Binance.US a Fake Exchange?
BLOCKFI Wants to Return User Funds
Voyager assets up for auction (Again?)
Is Binance.US a Fake Exchange?
Binance and Binance.US have positioned themselves as separate entities, with Binance.US operating as a way for Binance to comply with regulatory requirements in the United States.
However, recent events have called this supposed separation into question. It has come to light that Binance.US had to transfer funds from the main Binance exchange in order to pay back customer withdrawals, raising the question of why U.S. customer assets were being held in Binance addresses in the first place.
This revelation has led many to wonder whether Binance and Binance.US are truly independent entities, or if there is some kind of connection between them.
BLOCKFI Wants To Return (Some) Users' Funds
26 days ago, BlockFi filed for Bankruptcy.
Good news for BlockFi users: the company has filed a motion with a U.S. bankruptcy court asking for permission to resume withdrawals for certain accounts.
BlockFi users have the option to store their cryptocurrency in a Wallet account for secure storage, or an Earn account to earn interest.
BlockFi recently filed a motion with a U.S. bankruptcy court asking for permission to allow customers to withdraw their Wallet holdings that have been frozen on the platform.
This filing does not apply to customer funds in the interest-bearing Earn accounts.
The bankruptcy court's decision on whether to allow this withdrawal plan will not be known until January 9th.
Binance to Buy Voyager’s Asset
Binance.US is acquiring Voyager's assets in a deal valued at $1.022b
Voyager was a top crypto broker that went bankrupt and was saved by FTX,
Then FTX collapsed and Voyager auctioned its assets again,
and now Binance.US is purchasing them for $1.022B.
The $1.022b valuation includes the current value of Voyager's remaining crypto assets, which will be returned to Voyager customers through their Binance.US accounts,
The exact amount that Voyager customers will receive is not yet known, but it may be announced in March,
The deal must be approved by a bankruptcy court on January 5 before it can be finalized.
MEME Of The Week
That’s all for today,
Inspired Analyst’s Team - signing off
Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.