Binance.US pulls out of Voyager asset acquisition citing “hostile” regulations
Crypto exchange Binance.US has pulled out of a deal to acquire beleaguered US-based crypto lender Voyager Digital’s assets.
Binance.US nixes Voyager acquisition deal
Binance.US says it has made the “difficult decision” to terminate the $1.022 billion deal, which was initially announced at the end of last year, citing “the hostile and uncertain regulatory climate” in the US as its reason for pulling out, claiming the country has introduced an “unpredictable operating environment impacting the entire American business community”.
Voyager Digital, which filed for bankruptcy protection last year, reached an agreement with the Voyager Official Committee of Unsecured Creditors and the US government on 19 April for the purchase to go through, Cointelegraph reports.
In December, when the Binance.US-Voyager deal was announced, it was revealed that should the deal not close by 18 April 2023, subject to a one-month extension, the agreement allows Voyager to immediately move to return funds to customers.
On news of the deal falling through, the Voyager Official Committee of Unsecured Creditors says it is “incredibly disappointed with this decision and is investigating potential claims against Binance.US”.
In September, crypto exchange FTX US was set to acquire Voyager’s assets for approximately $1.422 billion after an auction process that lasted two weeks.
However, with the collapse of FTX, Voyager tweeted in November that the proposed deal was cancelled and that it was in “active discussions with several alternative bidders”.
