• BINANCE

• GENERAL CRYPTO

2 minute read

Binance.US Terminates Deal to Acquire Voyager Digital’s Assets

Joshua Ramos

April 25, 2023

Source: Benzinga

Voyager has taken to Twitter to reveal that Binance.US has terminated its asset purchase agreement. Moreover, the news arrives after the federal government greenlit the $1 billion acquisition deal that was put in place by the American arm of the crypto exchange. Following its previous halting of the proposed acquisition.

Today, Voyager announced that they had received a letter terminating the agreement. Additionally, the bankrupt lender commented on the development. Subsequently stating their “Chapter 11 plan allows for direct distribution of cash and crypto to customers (a “toggle option”) via the Voyager platform.”

After a long road that involved intervention from the US government, Voyager has officially revealed that Binance.US is terminating the asset purchase agreement. Moreover, the $1 billion acquisition was said to be terminated following a letter issued to Voyager from the Binance American arm. 

Taking to Twitter, Voyager noted the development as “disappointing,” but maintained their Chapter 11 plan. Additionally, they stated they “will now move swiftly to return value to customers via direct distributions.” Subsequently, stating, “We will provide more information on the next steps and any actions customers need to take in the coming days.”