{"id":77849,"date":"2023-04-26T10:32:24","date_gmt":"2023-04-26T07:32:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77849"},"modified":"2025-09-11T01:36:12","modified_gmt":"2025-09-10T22:36:12","slug":"binance-us-withdraws-bid-to-buy-voyager-digital-assets","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-us-withdraws-bid-to-buy-voyager-digital-assets\/","title":{"rendered":"Binance.US Withdraws Bid to Buy Voyager Digital Assets"},"content":{"rendered":"<p>Binance.US terminated the agreement to acquire Voyager Digital, the crypto broker undergoing bankruptcy proceedings. The exchange cited a &#8216;hostile and uncertain regulatory climate in the United States&#8217;, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-25\/binance-us-terminates-deal-to-buy-bankrupt-crypto-firm-voyager\">Bloomberg<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;[Regulators&#8217; actions] have created an unpredictable operating environment affecting the entire American business community,&#8221;<\/em> \u2014 the company said.<\/p>\n<\/blockquote>\n<p>The decision came less than a week after the government agreed not to block the acquisition.<\/p>\n<p>On March 17, 2023, the U.S. Department of Justice filed an emergency motion to freeze the deal. Three days later Voyager Digital challenged the motion, but a day later the agency filed a counter-appeal. On March 28, the court<a href=\"https:\/\/forklog.com\/en\/news\/court-halts-binance-us-deal-to-buy-voyager-digital-assets\"> halted the asset sale process<\/a>. On April 19, authorities agreed with the creditors&#8217; committee&#8217;s arguments, <a href=\"https:\/\/twitter.com\/VoyagerUCC\/status\/1648753618084847637?ref_src=twsrc%5Etfw\">having removed their objections<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">2\/ Consistent with the plan, we will now move swiftly to return value to customers via direct distributions. We will provide more information on next steps and any actions customers need to take in the coming days.<\/p>\n<p>\u2014 Voyager (@investvoyager) <a href=\"https:\/\/twitter.com\/investvoyager\/status\/1650921889143963649?ref_src=twsrc%5Etfw\">April 25, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Voyager may seek a termination fee from Binance.US. In a letter, the platform&#8217;s representatives demanded <a href=\"https:\/\/cases.stretto.com\/public\/x193\/11753\/PLEADINGS\/1175304252380000000171.pdf\">return of a $10 million deposit<\/a> within three days.<\/p>\n<p>The Committee did not rule out filing a suit against the buyer.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ Around 2 hours ago, <a href=\"https:\/\/t.co\/5sjac1H4CW\">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\">https:\/\/t.co\/5sjac1H4CW<\/a>.<\/p>\n<p>\u2014 Voyager Official Committee of Unsecured Creditors (@VoyagerUCC) <a href=\"https:\/\/twitter.com\/VoyagerUCC\/status\/1650923721559777288?ref_src=twsrc%5Etfw\">April 25, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In December 2022, Binance.US offered <a href=\"https:\/\/forklog.com\/en\/news\/binance-us-to-acquire-voyager-digital-assets\"><em>the highest price<\/em><\/a> for Voyager assets \u2014 $1.02 billion.<\/p>\n<p>However, regulators, including the U.S. Securities and Exchange Commission (SEC) and the New York Department of Financial Services, <a href=\"https:\/\/forklog.com\/en\/news\/sec-and-nydfs-oppose-sale-of-voyager-digital-assets-to-binance-us\">opposed<\/a> the deal.<\/p>\n<p>During the hearings on the matter, SEC representatives <a href=\"https:\/\/forklog.com\/en\/news\/sec-officials-lodge-objections-to-binance-us\">stated<\/a>, that the U.S. unit of Binance operates an unregistered securities exchange.<\/p>\n<p>The U.S. Department of Justice also <a href=\"https:\/\/forklog.com\/en\/news\/u-s-doj-appeals-binance-us-voyager-digital-assets-purchase-ruling\">opposed<\/a> the purchase by the platform&#8217;s U.S. unit.<\/p>\n<p>U.S. Attorney for the Southern District of New York Damian Williams <a href=\"https:\/\/forklog.com\/en\/news\/us-authorities-again-seek-to-block-binance-us-voyager-digital-deal\">noted<\/a>, that the agreement between the companies effectively rehabilitates Voyager and its employees after a violation of the Securities Act.<\/p>\n<p>As reported on March 27, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and its CEO Changpeng Zhao. The regulator accused the crypto exchange of &#8220;willful evasion of U.S. law&#8221; and non-compliance with the rules.<\/p>\n<p>In response, Zhao <a href=\"https:\/\/forklog.com\/en\/news\/changpeng-zhao-calls-cftc-lawsuit-unexpected-and-disappointing\">stated<\/a>, that the CFTC&#8217;s claims contain &#8220;an incomplete account of the facts,&#8221; and his company does not agree with the characterizations of many points.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance.US terminated the agreement to acquire Voyager Digital, the crypto broker undergoing bankruptcy proceedings. The exchange cited a &#8216;hostile and uncertain regulatory climate in the United States,&#8217; Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":77850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,36,1546],"class_list":["post-77849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-regulation","tag-voyager"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=77849"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77849\/revisions"}],"predecessor-version":[{"id":77851,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77849\/revisions\/77851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/77850"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=77849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=77849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=77849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}