Binance.US Ends $1B Voyager Deal due to Regulatory Uncertainty in US

Binance.US announced its decision to terminate the agreement to purchase Voyager Digital's assets for $1 billion, because of the regulatory uncertainty in the US.

Binance.US said in a statement, "while our hope throughout this process was to help Voyager's customers access their crypto in kind, the hostile and uncertain regulatory climate in the United States has introduced an unpredictable operating environment impacting the entire American business community."

Voyager said that its chapter 11 plan allows for direct distribution of cash and crypto to customers via the Voyager platform. The company will now move swiftly to return value to customers via direct distribution. Voyager Official Committee of Unsecured Creditors expressed disappointment to Binance.US' decision, saying it is investigating potential claims against the exchange.

Crypto KOL Hsaka said on Twitter, "Binance pulling out of the Voyager deal is part of the conditions of an imminent settlement with the CFTC." CZ replied to the tweet with a shrugging emoji.

According to TokenInsight data, the price of $VGX dropped 21.86% over the last 24 hours, trading at $0.277277 now.

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