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HomeBlockchainBinance.US pulls out of Voyager asset acquisition citing “hostile” regulations

Binance.US pulls out of Voyager asset acquisition citing “hostile” regulations

Date:

Binance.US has terminated its deal to acquire Voyager Digital’s assets citing the hostile regulatory environment in the US.

Facts

  • Binance.US has pulled out of a $1.022 billion deal to acquire Voyager Digital’s assets.
  • The crypto exchange cited the “hostile and uncertain regulatory climate” in the US as the reason for terminating the deal.
  • Voyager Digital reached an agreement with the Voyager Official Committee of Unsecured Creditors and the US government on 19 April for the acquisition to go through.
  • The deal had a deadline of 18 April 2023 for closure, subject to a one-month extension.
  • The Voyager Official Committee of Unsecured Creditors is “incredibly disappointed” with Binance.US’s decision and is investigating potential claims against the company.
  • FTX US was set to acquire Voyager’s assets for approximately $1.422 billion in September, but the deal fell through.
  • Voyager announced in November that it was in “active discussions with several alternative bidders” after the collapse of the FTX deal.

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