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Binance.US deal with Voyager may be subject to CFIUS’ review

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Binance.US deal with Voyager may be subject to CFIUS' review 10

The financial agreement deal between Voyager Digital & Binance.US may face some significant impact because of the federal committee review.

Voyager Digital is a Crypto Brokerage platform. On 1 July 2022, Voyager suspended its services like “trading, deposits, withdrawals and loyalty rewards” because the company was under a financial struggle as Three Arrows Capital had not repaid loans totaling $666 Million. On 5 July, This company filed for bankruptcy under chapter 11 in the US bankruptcy court. 

Experts noted that court filing showed that financial transactions between Binance.US & Voyager Digital may fall under the review by the Committee on Foreign Investment in the United States (CFIUS). 

The filing notice stated:

“(BinanceUS & Voyager financial agreement under CFIUS’ review) could affect the ability of the parties to complete the transactions, the timing of completion, or relevant terms.”

So, here it will be a type of shock for not only BinanceUS but also for the customers & creditors of Voyager Digital because the deal may terminate or will take a huge time to reach the final phase. 

Binance & Voyager Digital agreement

As we know that Voyager Digital is a bankrupt Crypto company. Initially, FTX crypto exchange & Binance were trying to acquire this company, and FTX won the bid but FTX itself faced the situation of bankruptcy.

On 19 Dec, Voyager Digital confirmed through a press release that it had agreed to a financial deal with BinanceUS, to bring the services of the platform back to normal. 

After the completion of the financial deal, Binance.US will purchase all the assets of Voyager Digital for $1.022 billion and it will be a fair value for Voyager. 

Before Binance.US, a CrossTower-named company was trying to acquire Voyager but Binance.US won the bid. 

Read also: Hacker selling Gemini’ user data on DarkWeb

Binance.US deal with Voyager may be subject to CFIUS’ review

 

https://bitcoinik.com/binance-us-deal-with-voyager-may-be-subject-to-cfius-review/feed/

https://bitcoinik.com/binance-us-deal-with-voyager-may-be-subject-to-cfius-review/feed/

 

 

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