{"id":137992,"date":"2023-04-26T02:57:21","date_gmt":"2023-04-26T02:57:21","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=137992"},"modified":"2023-04-26T11:12:33","modified_gmt":"2023-04-26T11:12:33","slug":"binance-us-pulls-out-of-1-billion-voyager-asset-purchase","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/binance-us-pulls-out-of-1-billion-voyager-asset-purchase\/","title":{"rendered":"Binance.US pulls out of $1 billion Voyager asset purchase"},"content":{"rendered":"<p style=\"text-align: justify\"><a href=\"https:\/\/www.binance.us\" target=\"_blank\" rel=\"noopener\">Binance.US<\/a>, the American division of the global cryptocurrency exchange <a href=\"https:\/\/crypto-economy.com\/binance-exchange-review-complete-guide\/\" target=\"_blank\" rel=\"noopener\">Binance,<\/a> <strong>has walked away from its deal with the purchase of $1 billion worth of assets from the defunct cryptocurrency brokerage Voyager Digital<\/strong>.<!--more--><\/p>\n<p style=\"text-align: justify\">However, a previous agreement for the purchase&#8217;s completion had been concluded between Voyager, the Voyager Official Committee of Unsecured Creditors, and the US government<strong>. The sale was initially <a href=\"https:\/\/crypto-economy.com\/federal-judge-suspends-voyager-digitals-sale-to-binance-us\/\" target=\"_blank\" rel=\"noopener\">halted<\/a> by an emergency stay issued by a judge while the US Department of Justice challenged Voyager&#8217;s bankruptcy plan<\/strong>.<\/p>\n<p style=\"text-align: justify\">At the time, Voyager pointed out that a delay may lead Binance.US to walk away from the agreement outright, and that eventually happened.<\/p>\n<h2>Voyager Reveals Its Disappointment<\/h2>\n<p style=\"text-align: justify\">Shortly before Binance.US <a href=\"https:\/\/cases.stretto.com\/public\/x193\/11753\/PLEADINGS\/1175304252380000000171.pdf\" target=\"_blank\" rel=\"noopener\">disclosed<\/a> its own details, Voyager and the Voyager Official Committee of Unsecured Creditors both expressed disappointment with the information. But according to the Voyager Official Committee of Unsecured Creditors,<strong> they are <em>&#8220;investigating potential claims against Binance.US.&#8221;<\/em><\/strong><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ Around 2 hours ago, <a href=\"https:\/\/t.co\/5sjac1H4CW\" target=\"_blank\">https:\/\/t.co\/5sjac1H4CW<\/a> purported to terminate the asset purchase agreement with Voyager. The Committee is incredibly disappointed with this decision and is investigating potential claims against <a href=\"https:\/\/t.co\/5sjac1H4CW\" target=\"_blank\">https:\/\/t.co\/5sjac1H4CW<\/a>.<\/p>\n<p>&mdash; Voyager Official Committee of Unsecured Creditors (@VoyagerUCC) <a href=\"https:\/\/twitter.com\/VoyagerUCC\/status\/1650923721559777288?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">April 25, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">Moreover, the Committee stated that it is currently coordinating with Voyager to swiftly utilize the <em>&#8220;toggle option&#8221;<\/em> provided for under the Plan in order to proceed with\u00a0self-liquidation.<\/p>\n<p style=\"text-align: center\"><em>\u201cWhile this development is disappointing, our Chapter 11 plan allows for [the] direct distribution of cash and crypto to customers (a \u201ctoggle option\u201d) via the Voyager platform,\u201d <\/em>Voyager said in a Tweet.<\/p>\n<p style=\"text-align: justify\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-137995 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2023\/04\/Voyager-1.jpg\" alt=\"Voyager Reveals Its Disappointment\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/04\/Voyager-1.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/04\/Voyager-1-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/04\/Voyager-1-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\">This option might enable customers to receive their funds in a more timely and efficient manner. <strong>Voyager has assured its customers that it will continue to work diligently to resolve the situation<\/strong> <strong>and provide updates as they become available<\/strong>.<\/p>\n<h2 style=\"text-align: justify\">Binance.US Blames Regulatory Uncertainty<\/h2>\n<p style=\"text-align: justify\">Binance.US insisted that despite its best efforts to assist Voyager&#8217;s customers in getting access to their crypto assets\u00a0all through the process, <strong>the unfriendly and unreliable regulatory setting of the country has created an unpredictable working atmosphere that has an impact on the entire American business community<\/strong>.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/t.co\/AZwoBOgsqS\" target=\"_blank\">https:\/\/t.co\/AZwoBOgsqS<\/a> has made the difficult decision to exercise its right to terminate the asset purchase agreement with Voyager. <\/p>\n<p>While our hope throughout this process was to help Voyager&#39;s customers access their crypto in kind, the hostile and uncertain regulatory climate\u2026<\/p>\n<p>&mdash; Binance.US \ud83c\uddfa\ud83c\uddf8 (@BinanceUS) <a href=\"https:\/\/twitter.com\/BinanceUS\/status\/1650932061866172435?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">April 25, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">This move comes as a surprise to many in the crypto community, as Binance has been extending its operations in the United States and becoming familiar with the regulatory framework there. On the other hand,<strong> Voyager has been dealing with legal issues as well as financial problems after the collapse of Three Arrows Capital<\/strong>.<\/p>\n<p style=\"text-align: justify\">Despite the setback, Voyager is expected to continue with its plans to move forward with self-liquidation while also exploring other options for the sale of its assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance.US, the American division of the global cryptocurrency exchange Binance, has walked away from its deal with the purchase of $1 billion worth of assets from the defunct cryptocurrency brokerage Voyager Digital.<\/p>\n","protected":false},"author":26,"featured_media":137996,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[5559,5256,9548],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/137992"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=137992"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/137992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/137996"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=137992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=137992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=137992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}