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Binance lets Voyager deal worth $1.3 billion slip away

A Binance.US takeover could have compensated Voyager customers faster.

By Finst News
• 3 min read
Binance lets Voyager deal worth $1.3 billion slip away

With a Binance.US takeover, Voyager customers could have been compensated faster. Now the company is pulling back, citing United States crypto regulation.

Binance.US, the U.S. arm of the crypto exchange Binance, will not buy the assets of the bankrupt crypto lender Voyager. In a tweet, the company said it is stepping back from the $1.3 billion deal. Binance.US cites "the hostile and uncertain regulatory climate" in the United States as the reason. The U.S. has created an "unpredictable environment" for crypto businesses, Binance.US says.

Voyager filed for bankruptcy in July 2022. Since then, affected customers have waited for compensation. Now that the takeover has failed, hopes for a quick resolution fade.

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Green light

The Committee of Voyager Creditors (UCC) View post on X says they are "incredibly disappointed" by the news and "are investigating possible claims against Binance.US." As a result, the takeover even got the green light from the U.S. government last week green light from the U.S. government. The UCC represents creditors and shares responsibility for the company’s restructuring.

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