Voyager Says Binance.US Sent Letter Terminating $1B Asset Buy Deal
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
:format(jpg)/s3.amazonaws.com/arc-authors/coindesk/83b3bbdb-5508-48a9-a9d9-2d7dd460fd5b.png)
Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Bankrupt crypto lender Voyager Digital said it received a letter from Binance.US, terminating the asset purchase deal.
“Today we received a letter from Binance.US terminating the asset purchase agreement,” Voyager said in a tweet on Tuesday. “While this development is disappointing, our Chapter 11 plan allows for direct distribution of cash and crypto to customers via the Voyager platform,” the weet added.
A substantive part of the $1 billion deal was allowed to proceed by the U.S. government in an April 20 filing, despite concerns the fine print of the contract would pardon breaches of tax or securities law.
Edited by Aoyon Ashraf.
DISCLOSURE
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
Digital Currency Group,
which invests in
cryptocurrencies
and blockchain
startups.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
stock appreciation rights,
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
