{"id":20230,"date":"2023-04-25T22:16:31","date_gmt":"2023-04-25T22:16:31","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/voyager-purchase-deal-falls-through-bitcoin-news\/"},"modified":"2023-04-25T22:16:31","modified_gmt":"2023-04-25T22:16:31","slug":"voyager-purchase-deal-falls-through-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/voyager-purchase-deal-falls-through-bitcoin-news\/","title":{"rendered":"Voyager Purchase Deal Falls Through \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n\n<\/div>\n

According to the now-defunct crypto lender Voyager, Binance US sent a letter to the company \u201cterminating the asset purchase agreement.\u201d While the announcement was \u201cdisappointing\u201d for Voyager, the firm maintained that its customers would still be receiving their cash and crypto through a \u201cdirect distribution\u201d via the Voyager platform.<\/strong><\/p>\n

Voyager\u2019s Asset Purchase Agreement With Binance US Scrapped<\/h2>\n

Towards the end of 2022, Binance disclosed<\/a> that its US subsidiary had entered into a billion-dollar agreement with Voyager Digital Ltd. to acquire its assets. Despite objections<\/a> from the US Securities and Exchange Commission (SEC), the purchase was allowed to proceed after receiving court approval<\/a>. However, on April 25, 2023, Voyager revealed that the deal was no longer moving forward.<\/p>\n

\u201cToday we received a letter from Binance US terminating the asset purchase agreement. While this development is disappointing, our Chapter 11 plan allows for direct distribution of cash and crypto to customers (a \u201ctoggle option\u201d) via the Voyager platform,\u201d Voyager announced<\/a> via Twitter.<\/p>\n

\n

https:\/\/t.co\/AZwoBOgsqS<\/a> has made the difficult decision to exercise its right to terminate the asset purchase agreement with Voyager. <\/p>\n

While our hope throughout this process was to help Voyager’s customers access their crypto in kind, the hostile and uncertain regulatory climate\u2026<\/p>\n

\u2014 Binance.US \ud83c\uddfa\ud83c\uddf8 (@BinanceUS) April 25, 2023<\/a><\/p>\n<\/blockquote>\n

Nine months prior, the TSX-listed Voyager Digital halted withdrawals<\/a> on July 1, 2022, and filed for bankruptcy<\/a> six days later. The firm cited \u201cprolonged volatility and contagion in the crypto markets\u201d as the reasons behind its failure. Before Binance stepped in to offer assistance, FTX was supposed to have helped Voyager, but Sam Bankman-Fried\u2019s FTX empire had collapsed.<\/p>\n

The official Twitter account of Voyager\u2019s Committee of Unsecured Creditors also expressed disappointment upon learning of the termination of the deal with Binance. \u201cAround 2 hours ago, Binance US purported to terminate the asset purchase agreement with Voyager,\u201d the account tweeted<\/a>. \u201cThe Committee is incredibly disappointed with this decision and is investigating potential claims against Binance US.\u201d<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
asset purchase agreement<\/a>, Bankruptcy<\/a>, Binance US Voyager<\/a>, Binance.us<\/a>, Cash<\/a>, Chapter 11<\/a>, court approval<\/a>, Crypto<\/a>, Crypto lender<\/a>, direct distribution<\/a>, ftx<\/a>, SEC objection<\/a>, voyager<\/a><\/div>\n<\/div>\n

What are your thoughts on Binance US\u2019s decision to terminate the Voyager deal? Share your thoughts about this subject in the comments section below.<\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n