Binance.US backs out of Voyager asset purchase deal Binance.US backs out of Voyager asset purchase deal
The embattled company said Binance.US informed it of the termination of the asset purchase agreement through a letter sent on April 25.
1 min read
Updated: Apr. 25, 2023 at 7:35 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Voyager said April 25 that Binance.US no longer intends to go through with the purchase of its assets.
The embattled company said Binance.US informed it of the termination of the asset purchase agreement through a letter sent the same day.
Binance has yet to make a public announcement on the matter.
Voyager and Binance.US did not respond to requests for comment as of press time.
Next steps
Voyager said Binance reneging on the deal is disappointing, but it has already accounted for such a scenario in its plans.
The company said its Chapter 11 bankruptcy plan allows direct distribution of cash and crypto back to customers through its platform, and it intends to do so as a next step.
It added that the functionality is built into its platform and will be toggled on after preparations are complete.
Voyager said it will provide further details to customers on the next steps and any required actions in the coming days.
Mentioned in this article
Author 
Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
Featured Story
Advertise Here
In this article
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Binance.US
Binance.US will provide secure and reliable cryptocurrency trading to users in the United States.
Voyager
Voyager Digital is a bankrupt cryptocurrency exchange company in the United States that was founded in 2018.