Binance.US, a US-based division of the international cryptocurrency exchange Binance, gives up on its plan to buy $1.3 billion worth of assets from the bankrupt Voyager Digital. The Voyager Official Committee of Unsecured Creditors and Voyager both voiced their displeasure with the action on Twitter.
“The Committee is incredibly disappointed with this decision and is investigating potential claims against Binance.US,” tweeted the Voyager Official Committee of Unsecured Creditors.
Binance.US, on the other hand, that the decision to terminate the asset purchase agreement was due to “hostile and uncertain regulatory climate in the United States”
“While our hope throughout this process was to help Voyager’s customers access their crypto in kind, the hostile and uncertain regulatory climate in the United States has introduced an unpredictable operating environment impacting the entire American business community,” said Binance.US.
The sudden change of heart by Binance.US has raised questions about the reason behind the decision. Voyager Digital Holdings got a green signal from the U.S. government and the Official Committee of Unsecured Creditors to proceed with the deal for Binance.
Voyager and the creditors’ committee have now stated that they will explore distributing cash and crypto directly to customers via the Voyager platform in light of the failed acquisition deal.
Compiled by Coinbold