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Voyager Finally Strikes A Deal With the US Government to Allow Binance.US Acquisition

Voyager said that they would continue with the plan of the proposed acquisition by Binance.US having received the government approval.
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Voyager Finally Strikes A Deal With the US Government to Allow Binance.US Acquisition

The Binance.US’s proposed acquisition of bankrupt crypto lender Voyager Digital has seen multiple ups and downs with regulators blocking the deal from going through over the past few months.

However, in a recent development, Voyager has finally confirmed that the Unsecured Creditors Committee (UCC) has finally reached an agreement with the U.S. government that will allow the plan of moving forward with the acquisition.

In the latest update on Wednesday, April 19, Voyager noted:

The resolution is embodied in a joint stipulation providing that the appeals will continue with respect to the Plan’s exculpation provision. The Government has agreed that the Plan may move forward without such provision and will not otherwise be subject to the stay. Voyager and the UCC are working with Binance.US to move forward as quickly as possible once this stipulation is approved by the District Court.

After the collapse of the Terra ecosystem last year in April 2023, crypto lender Voyager Digital came into major trouble as it faced heavy liquidity demand amid huge withdrawals. Soon after, Voyager filed for Chapter 11 bankruptcy.

Binance.US had shown interest in acquiring the assets of Voyager Digital quite earlier and was in a race with FTX who had shown a similar interest. However, crypto exchange FTX went out of the equation following its own bankruptcy in November last year.

With Voyager Acquisition, Will Regulatory Troubles End for Binance?

Alike other top crypto exchanges in the market, crypto exchange Binance has also been facing the wrath of US regulators in recent times. Last month, the U.S. Commodities and Futures Trading Commission (CFTC) sued Binance.US for violating the derivatives laws of the country.

Furthermore, the CFTC also accused Binance and its employees of instructing US customers to use virtual private networks (VPNs) to obscure their locations. This way they also helped customers to use their platforms without providing their proof of identity.

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Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

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