Binance US Canceled Voyager Acquisition Due To Hostile US Regulatory Environment

Binance US Canceled Voyager Acquisition Due To Hostile US Regulatory Environment \n \n Binance US has terminated its plans to acquire Voyager Digital. The lending platform has expressed frustration and may pursue legal action. After announcing that it has reached almost all agreements with the US government, Binance US has sent a letter to cancel the acquisition of Voyager Digital. Binance.US cited the current regulatory environment as a reason to withdraw from the agreement with Voyager. \n \n Instead, Voyager Digital will return cash and crypto to customers on its own through its platform, as the court restructuring plan has been approved. Voyager expressed disappointment in the tweet. The initial terms allowed Binance.US to cancel the agreement within 4 months unilaterally. However, in a recent legal filing, Voyager’s lawyers warned that the deal’s failure could cost its more than 1 million creditors an additional $100 million. The court authorized the deal to sell Voyager to Binance US last month at a valuation of $1.3 billion. Customers get 73% of their assets back, but this rate can be reduced to 48% if FTX and Alameda Research successfully appeal. Of the 6% of creditors who voted, 97% favored the Binance US – Voyager deal. \n \n Source