Voyager Digital deal : Binance.US cancels buyout
Crypto winter

Voyager Digital deal : Binance.US cancels buyout

Binance.US has terminated the agreement to buy the assets of crypto platform Voyager Digital due to the “hostile and uncertain” regulatory climate in the United States.

As a reminder, After a bitter legal battle between financial regulators and the bankruptcy judge, Binance is allowed to get its hands on nearly $1 billion in assets held by the bankrupt broker Voyager.

But the platform has just announced that it is backtracking on the agreement to buy back customer assets.

Indeed, on Tuesday evening, Voyager said it received a letter from Binance.US informing it of the termination of the current agreement.

While disappointing, our Chapter 11 plan allows for direct distribution of cash and crypto to customers via the Voyager platform […] We will now move quickly to return value to customers via direct distributions,” Voyager reported.

The U.S. arm of the giant Binance, meanwhile, said it was a difficult decision.

“While our hope throughout this process was to help Voyager customers access their crypto, the hostile and uncertain regulatory climate in the U.S. has introduced an unpredictable operating environment impacting the entire U.S. business community,” Binance.US tweeted.

Image Source : Unsplash

Written by Laeti Marison (SatoshiBelle)

Article written by:

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.

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