Binance US cancels USD 1 billion deal to purchase Voyager assets

Date:

Share post:

Binance US has canceled a USD 1 billion deal to acquire the assets of bankrupt crypto lender Voyager Digital. Voyager claims in a tweet that it has received a letter “terminating the asset purchase agreement” from Binance US.

In a move that was intended to create a “clear path forward for Voyager customer funds to be unlocked as soon as possible,” Binance won the bidding war for Voyager’s assets in December. The company has since announced that it will “move swiftly to return value to customers via direct distributions” of cash and cryptocurrency.

Binance US cites the “hostile and uncertain regulatory climate in the United States” as the reason for its choice in its own tweet.

Read More: Binance US calls off $1bn deal to buy Voyager assets

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

How Blockchain is Transforming Banking

As the backbone of digital currency, Blockchain has already proven its potential as a disruptive force in the...

Fintech platform Xalts to build “Plaid for trade” as it acquires Contour Network from consortium of global banks

Contour Network connects global banks including HSBC, BNP, Citi, DBS and ING to global businesses like Tata Group,...

Capital One to acquire Discover for USD 35 billion

Capital One has made a USD 35 billion bid to acquire Discover Financial Services. The firm claims this...

ADIB facilitates cross-border payments with ProgressSoft

Abu Dhabi Islamic Bank (ADIB) has announced the successful launch of a new payment hub that enables customers...