Binance.US Terminates Voyager Asset Acquisition Deal

Cryptocurrency exchange Binance.US has called off its acquisition deal with Voyager after a long and drawn-out process. Voyager received a termination letter from Binance.US, which officially ends the $1 billion transaction. This comes after the US government initially halted the acquisition plan, citing concerns that laws had been broken. However, the authorities later authorized the proposal, allowing Binance.US to acquire Voyager’s remaining assets.

Voyager took to Twitter to announce the news, calling it “disappointing” but maintaining their Chapter 11 strategy. The company pledged to “immediately return value to customers through direct distributions” and will provide more information on the next steps and any actions customers need to take in the coming days.

Binance.US explained the matter in a statement, attributing it to the unstable operating environment created by the US regulatory climate. The exchange remains committed to establishing a safe platform for its customers.

The Binance.US acquisition of Voyager has been the talk of the crypto market in recent weeks. Under the terms of the deal, Binance.US was to pay roughly $20 million in repayments to Voyager customers in the United States. However, the deal is now null and void. It remains to be seen what the next steps for Voyager will be, but the company has promised to keep its customers informed.