After several back and forth, Binance.US has decided to pull the plug on a deal involving the purchase of Voyager's assets.
Binance.US has stopped a deal that would have allowed it to purchase assets of the bankrupt cryptocurrency lender, Voyager.
The termination marks the second time a deal to acquire Voyager’s assets has failed to reach completion.
The $1B Deal Falls Through
“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.”
Although the courts recently approved the purchase deal between Binance US and Voyager to continue, the termination from Binance could serve as another blow to Voyager customers who have witnessed the failure of two asset purchase agreements.
Voyager Focuses on Reimbursing Affected Customers
“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.”
The distressed cryptocurrency lender also said Binance will have to permanently destroy all Voyager customer information and close any accounts set up with such information, based on the terms set in the asset purchase deal.