• Binance US cancels $1 billion deal to acquire assets of bankrupt crypto lender Voyager Digital.
• Voyager Digital to initiate self-liquidation, directly distributing remaining assets to customers.
• Following the termination news, Binance’s native cryptocurrency, BNB, experienced a 0.22% drop.

According to a letter sent by Binance US to insolvent crypto lender Voyager Digital, the $1 billion deal to buy Voyager’s assets has been terminated. Voyager announced the development in a Twitter thread, stating its intention to initiate self-liquidation as per its Chapter 11 plan.

In a statement on Twitter, Binance US explained the termination, saying, “the hostile and uncertain regulatory climate in the United States has introduced an unpredictable operating environment impacting the entire American business community.” The move comes a week after US federal regulators stopped their efforts to get the deal suspended through a court order.

In an interview, Kristin Johnson, commissioner of the Commodity Futures Trading Commission (CFTC), said that the CFTC had not ruled out settling its complaint against Binance and that it hoped to find a “path forward” with the exchan…

The post Binance US Abandons $1 Billion Voyager Acquisition appeared first on Coin Edition.

• Binance US cancels $1 billion deal to acquire assets of bankrupt crypto lender Voyager Digital.
• Voyager Digital to initiate self-liquidation, directly distributing remaining assets to customers.
• Following the termination news, Binance’s native cryptocurrency, BNB, experienced a 0.22% drop.

According to a letter sent by Binance US to insolvent crypto lender Voyager Digital, the $1 billion deal to buy Voyager’s assets has been terminated. Voyager announced the development in a Twitter thread, stating its intention to initiate self-liquidation as per its Chapter 11 plan.

In a statement on Twitter, Binance US explained the termination, saying, “the hostile and uncertain regulatory climate in the United States has introduced an unpredictable operating environment impacting the entire American business community.” The move comes a week after US federal regulators stopped their efforts to get the deal suspended through a court order.

In an interview, Kristin Johnson, commissioner of the Commodity Futures Trading Commission (CFTC), said that the CFTC had not ruled out settling its complaint against Binance and that it hoped to find a “path forward” with the exchan…

The post Binance US Abandons $1 Billion Voyager Acquisition appeared first on Coin Edition.