Binance calls off $1.3-billion deal to buy Voyager’s assets

Voyager Digital mentioned on Tuesday cryptocurrency alternate Binance US had known as off a $1.3 billion deal to purchase the bankrupt crypto lender’s property.

Last month, a federal decide briefly stopped bankrupt Voyager Digital from finishing a proposed $1.3 billion sale, permitting the US authorities extra time to pursue appeals that problem the legality of the deal.

The deal was first introduced in December final yr and acquired an preliminary court docket approval In January for a proposed $1 billion sale of its property to Binance. However, the court docket had mentioned it will search to expedite a US nationwide safety overview of the deal.

Voyager legal professional Joshua Sussberg had then mentioned that Voyager was responding to issues raised over the vacations by the US Committee on Foreign Investment within the United States (CFIUS), an interagency physique that vets international investments into US firms for nationwide safety dangers. He had added that Voyager would tackle any points that will lead CFIUS to oppose the transaction.

However, final month US district decide Jennifer Rearden in Manhattan dominated that the sale ought to be placed on maintain, overruling Voyager’s argument {that a} delay might trigger Binance to again out of the deal totally. This allowed the US authorities extra time to pursue appeals that problem the legality of the deal.