Voyager’s $1 Billion Acquisition by Binance.US Gets Canceled

Voyager took to Twitter to announce that Binance had backed out of its deal to buy the company’s assets.

The announcement comes after the US government approved a $1 billion acquisition of the US cryptocurrency exchange subsidiary after it had previously put the acquisition plan on hold.

Binance.US voyager agreement failed

Voyager advertiser They have received a termination letter from Binance.US. Voyager has announced that Binance.US will officially cancel the asset acquisition deal after a lengthy process that included interference from US authorities.

Moreover, it has received the termination letter from the Binance American subsidiary, which supposedly closed a $1 billion deal.

On Twitter, Voyager referred to the development as “disappointing” but maintained its Chapter 11 strategy. In addition, they stated that they would “immediately return value to customers through direct distributions.”

The tweet then said: “We will be providing more information on next steps and any actions customers need to take in the coming days.”

The Binance.US acquisition of Voyager has dominated the cryptocurrency market in recent weeks. The exchange was supposed to make nearly $20 million in payments to Voyager customers in the US, but the deal now appears to be void.

But the US authorities blocked the deal due to fears of violating laws. Instead, the government authorized the proposal, allowing Binance.US to acquire the remaining assets of the crypto lender.

After the revelation, the Voyager VGX token fell by more than 10%, reaching as low as $0.308.

Termination due to organizational climate

Binance.US has released a file statement Chapter explanation. According to the conversation, this is due to the unstable operating environment brought about by the unfriendly and uncertain regulatory climate in the United States.

The exchange also announced its commitment to creating a “secure platform” for clients.