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Binance.US backs out of Voyager asset purchase deal 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.

Binance.US backs out of Voyager asset purchase deal

Cover art/illustration via CryptoSlate

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.