- Binance.US purchased the now-bankrupt Voyager Digital for $1.02 billion.
- Binance US arm’s CEO, Brian Shroder, stated the exchange still has hundreds of millions in current assets.
- Binance Coin price bounced off of its support level at $240 to trade at $251, looking to mark a 9% rally.
Binance is making headlines every other week in the crypto space, be it the parent company exchange or its American extension. Following the pattern, Binance’s US arm, Binance.US, announced how the exchange would be taking charge to pull out deserving companies taking a loss from the FTX-induced liquidity crunch.
Binance.US to the rescue
Binance emerged as a key entity over the last couple of weeks following FTX’s collapse. Continuing that streak, Binance.US announced that the company is now exploring more companies to purchase. Earlier this week, the US arm of the world’s biggest crypto exchange bought Voyager Digital’s assets for $1.02 billion.
Going forward, Binance.US’s CEO, Brian Shroder, is expecting to be doing so with other firms as well. In an interview, the executive stated,
“We are in the data room for many other assets that make sense as we focus on growth. We are learning about the deals. We are also looking at several firms that are in trouble right now.”
Shroder noted that the American arm of Binance has “hundreds of millions of dollars in current assets” from its recent funding rounds to facilitate the same.
However, sustainability is the biggest factor in question in the crypto space at the moment due to the FTX debacle. Reassuring Voyager Digital customers, Shroader had stated that the exchange would be providing users access to their assets by March 2023. Expanding on the same, he said,
“We always maintain 1:1 reserves, and are subject to regular audits and regulatory reporting by government entities. We do not offer margin products, undertake proprietary trading, or take on any corporate debt.”
Binance Coin price runs up
Binance Coin price spiked over the last few days after the cryptocurrency fell to trade at $229 on December 17. Trading at $249 at the time of writing, BNB inched closer to breaching its immediate resistance level at $253.70.
If Binance Coin price manages to break above the barrier, it would be able to chart a rise toward its critical resistance level at $264. Flipping this into a support floor would allow BNB price to rally and tag $274, constituting a 9% rise. From here on, the exchange token would be able to initiate recovery.
BNB/USD 4-hour chart
However, if the breach fails and Binance Coin price starts dipping, the first line of defense would be $240. If the price declines further, the cryptocurrency will end up tagging the support at $234. A daily candlestick close below this point would invalidate the bullish thesis, setting BNB up for a fall to a five-month low of $219.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Crypto Today: BNB, OKB, BGB tokens rally as BTC, Shiba Inu and Chainlink lead market rebound
Cryptocurrencies sector rose by 0.13% in early European trading on Friday, adding $352 million in aggregate valuation. With BNB, OKB and BGB attracting demand amid intense market volatility, the exchange-based native tokens sector added $1.9 billion.

US SEC may declare XRP a 'commodity' as Ripple settlement talks begins
The US SEC is considering declaring XRP as a commodity in the ongoing settlement talks with Ripple Labs. FOX News reports suggest Ethereum's regulatory status remains a key reference for XRP’s litigation verdict.

Cardano Price Prediction: ADA could hit $0.50 despite high probability of US Fed rate pause
Cardano price stabilized above $0.70 after posting another 5% decline in its 3rd consecutive losing day. Multiple ADA derivatives trading signals are leaning bullish, but the US trade war impact outweighs the positive shift in inflation indices.

Stablecoin regulatory bill receives green light during Banking Committee hearing
The US Senate Banking Committee voted on Thursday to advance the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which aims to establish proper regulations for stablecoin payments in the country.

Bitcoin: BTC at risk of $75,000 reversal as Trump’s trade war overshadows US easing inflation
Bitcoin price remained constrained within a tight 8% channel between $76,000 and $84,472 this week. With conflicting market catalysts preventing prolonged directional swings, here are key factors that moved BTC prices this week, as well as key indicators to watch in the weeks ahead.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.