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Breaking: Binance US terminates deal to acquire Voyager Digital’s assets

Press Releases Crypto News AMB-Crypto Breaking: Binance US terminates deal to acquire Voyager Digital’s assets

Binance U.S. walks away from its $1 billion asset acquisition deal from Voyager
The exchange claimed that the action was a result of the uncertain regulatory environment in the United States

Binance U.S. – the American arm of Binance – terminated its deal to acquire crypto lending platform – Voyager Digital’s assets. The announcement was made by Voyager today on its official Twitter handle.

Binance U.S. confirmed the same on its social media channel. The crypto exchange blamed “the hostile and uncertain regulatory climate” in the U.S. as the reason. In a Tweet, Binance said,

“While our hope throughout this process was to help Voyager’s customers access their crypto in kind, the hostile and uncertain regulatory climate in the United States has introduced an unpredictable operating environment impacting the entire American business community.”

Binance U.S. walks away from the crypto lender

With the deal terminated, the defunct crypto lender will now proceed to distribute cash and crypto to its customers. This move was part of its Chapter 11 proceedings. The company further said,

“Consistent with the plan, we will now move swiftly to return value to customers via direct distributions. We will provide more information on next steps and any actions customers need to take in the coming days.”

Notably, Binance U.S. and Voyager’s deal was worth a whopping $1.022 billion. It was initially in the hands of FTX U.S. but the deal fell through after the collapse of the exchange. Moreover, Binance U.S. had to make a deposit of $10 million in good faith and take up Voyager’s expenses extending up to $15 million.

Additionally, soon after Binance U.S. signed the deal to acquire the crypto lending firm’s assets, it w

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Author: Priya NV

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