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Binance US is abandoning its proposed $1bn acquisition of assets belonging to Voyager Digital, bringing to an end the exchange’s long-running effort to purchase the Voyager Digital and its creditors stand to lose $100 million if legal objections brought by the U.S. government aren't resolved by April 13, according to documents filed in On April 25th, Voyager announced that the $1.02 billion Purchase Agreement with Binance.US has been terminated. Voyager will not be searching for a new United States bankruptcy judge Michael Wiles asked the SEC to explain its reasons for objecting to a deal between Voyager and Binance.US that could bring the former ChainCatcher news, according to CoinDesk, a court document stated that Voyager and its creditors will lose $100 million if the legal objections raised by the U.S. government are not Bankrupt cryptocurrency lending firm Voyager Digital wants the legal fight with Binance.US to be resolved by April 13th, or its creditors stand to lose $100 million. This is Voyager Digital and its creditors face the possibility of losing up to $100 million if the U.S. government’s legal objections are not resolved by April 13. Why the deadline?

Binance US Voyager Deal: Why the April 13th Deadline?

The proposed Binance US acquisition of Voyager Digital's assets has been a long and complex saga. The deal, initially valued at $1 billion, has faced numerous hurdles, culminating in its termination. But why was there such a critical April 13th deadline looming over the Voyager Digital bankruptcy proceedings?

The urgency stemmed from significant financial implications. Voyager Digital and its creditors faced the possibility of losing up to $100 million if the U.S. government’s legal objections were not resolved by April 13. According to documents filed in ChainCatcher news, a court document stated that Voyager and its creditors will lose $100 million if the legal objections raised by the U.S. government are not addressed promptly. This financial risk added immense pressure to finalize the deal quickly.

Bankrupt cryptocurrency lending firm Voyager Digital wanted the legal fight with Binance.US to be resolved by April 13th, or its creditors stand to lose $100 million. This is because delays and unresolved legal challenges erode the value of Voyager's assets and prolong the bankruptcy process, ultimately impacting the funds available for creditors. Voyager Digital and its creditors stand to lose $100 million if legal objections brought by the U.S. government aren't resolved by April 13.

The Securities and Exchange Commission (SEC) played a crucial role in the delay. United States bankruptcy judge Michael Wiles asked the SEC to explain its reasons for objecting to a deal between Voyager and Binance.US that could bring the former closer to a resolution. These objections, focusing on regulatory concerns and the security of customer assets, contributed significantly to the delays. Binance US is abandoning its proposed $1bn acquisition of assets belonging to Voyager Digital, bringing to an end the exchange’s long-running effort to purchase the Voyager Digital.

Ultimately, on April 25th, Voyager announced that the $1.02 billion Purchase Agreement with Binance.US has been terminated. Voyager will not be searching for a new partner, leaving many questions about the future of Voyager's assets and the compensation creditors will receive. The April 13th deadline, while ultimately unmet, underscores the high stakes and financial pressures involved in the complex world of cryptocurrency bankruptcy and acquisitions.

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