Binance US Cancels $1 Billion Deal To Buy Voyager Assets

Binance US has backed out of a $1 billion deal to buy the assets of Voyager Digital, a crypto lender that went bankrupt.

Voyager says in a tweet that it has gotten a letter from Binance US ” terminating the asset purchase agreement.”

Binance won the bids for Voyager’s assets in December. This was meant to make it easier for Voyager customers to get their money as soon as possible.

The company says it will now “move swiftly to return value to customers via direct distributions” of cash and cryptocurrency.

In its own tweet, Binance US blames its decision on the “hostile and uncertain regulatory climate in the United States”.

Voyager filed for Chapter 11 bankruptcy protection in July, saying that its assets and debts were between $1 billion and $10 billion.

Three Arrows Capital missed a payment on a loan of 15,250 BTC and $350 million USDC a week early, which hurt the business.

The auction for Voyager’s assets was won by FTX in September, but the deal fell apart when Sam Bankman-Fried’s company went out of business.