Binance.US has withdrawn from its agreement to purchase $1 billion worth of assets from bankrupt cryptocurrency brokerage Voyager Digital, citing “the hostile and uncertain regulatory climate in the United States” in a company tweet. Voyager, the Voyager Official Committee of Unsecured Creditors, and the U.S. government had reached an agreement for the acquisition on April 19. However, a judge had granted an emergency stay on March 28, blocking the deal as the U.S. Department of Justice appealed Voyager’s bankruptcy plan.
Disappointment from Voyager and Creditors Committee
Both Voyager and the Voyager Official Committee of Unsecured Creditors expressed their disappointment with Binance.US’s decision in tweets preceding the exchange’s announcement. The creditors’ committee tweeted that they are “incredibly disappointed with this decision and are investigating potential claims against Binance.US.”
Also Read: Bankruptcy Court Approves Binance.US Acquisition of Voyager Digital Assets
In response, Binance.US stated it chose to “exercise its right to terminate the asset purchase agreement.” The exchange explained that it had hoped to help Voyager’s customers access their crypto in kind but that the uncertain regulatory environment in the U.S. had created an unpredictable operating landscape that affects the entire American business community.
Mixed Reactions from the Crypto Community
While it is uncertain what caused Binance.US to change its stance, the exchange was undoubtedly aware of the U.S. regulatory climate beforehand. The crypto community on Twitter had mixed reactions to the news, with some expressing sympathy for Binance.US and others voicing frustration.
Voyager and the creditors’ committee have stated they will now pursue the “toggle option” to distribute cash and crypto directly to customers through the Voyager platform
