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Binance US Terminates Asset Purchase Agreement with Voyager

Binance US Voyager
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Voyager Digital Ltd., once in collaboration with Binance’s US subsidiary to acquire its assets, has had its asset purchase agreement cancelled. This termination came to Voyager’s attention via a letter sent by Binance US, a development that Voyage finds disappointing but not crippling, as it assures the public that the Chapter 11 plan is still in operation.

Disheartening News for Voyager and Its Creditors

The SEC raised objections to the billion-dollar deal between Binance US and Voyager in 2022, and what ensued was a court-ordered validation enabling the transaction to continue. With the assets’ purchase planned, Binance US’s unexpected decision to terminate their asset purchase agreement has raised questions, and Voyager’s Committee of Unsecured Creditors is investigating potential claims against Binance US in response. The termination is a setback for Voyager, which had already undergone bankruptcy proceedings in the prior year.

FTX’s Failed Attempt to Rescue Voyager

While Binance US was the final assistant to cry, FTX previously attempted to rescue Voyager after it halted withdrawals on July 1, 2022, and filed for bankruptcy six days later. Unfortunately, Sam Bankman-Fried’s FTX enterprise had already collapsed, preventing the assistance that the firm was seeking. With Binance’s failure to materialize, it is uncertain where Voyager’s future lies.

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