Regulator objects to Binance.US purchase of Voyager Digital

The US Securities and Exchange Commission (SEC) has filed an objection in New York Bankruptcy Court against Binance.US's proposed plan to buy bankrupt crypto lender Voyager Digital for $1 billion. Binance.US close trade. More information is needed on what Binance's operations in the US will look like after the deal, as well as more information on how the assets of the exchange's customers will be protected, the agency said. “The ability of Binance.US to complete a transaction of this magnitude, valued at more than $1 billion by debtors, is questionable, including the future nature of Binance US’s post-acquisition business operations,” the regulator said in a statement. SEC asks Binance.US for more information on future Voyager cryptocurrency portfolio rebalancing. Thus, the regulator wants to ensure that customer funds are returned in full before Voyager gets anything from the deal. Recall that in December, the American branch of the Binance cryptocurrency exchange won a tender to acquire the assets of the bankrupt crypto creditor Voyager Digital, offering the best buyout conditions.. The deal is expected to close by April 18, 2023