SEC Objects to Binance.US’s Attempt to Buy Voyager Digital Assets

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• The SEC has objected to Binance.US’s attempt to buy up assets from the bankrupt crypto lender Voyager Digital.
• The SEC requested more information about the deal and the nature of the planned business operations after Voyager assets have been taken over by Binance.US.
• The purchase price for Voyager is $20 million, in addition to repayments to Voyager’s customers.

The Securities and Exchange Commission (SEC) has voiced its opposition to the American franchise of Binance’s attempt to purchase distressed assets from the crypto lender Voyager Digital.

In a filing submitted to the court on Wednesday, the SEC stated that Binance.US had failed to provide enough detail in its disclosure statement concerning its capability to close the deal. The SEC is now seeking further information regarding the agreement and the planned business operations after the Voyager assets have been taken over by Binance.US.

In response to the SEC’s objection, a spokesperson from Binance.US commented that they would be willing to provide any information that the regulator requests. The spokesperson also expressed their eagerness to complete the transaction.

The transaction between Binance.US and Voyager Digital was announced in December of last year and is valued at roughly $1 billion. As part of the agreement, Binance.US will deposit $10 million and cover Voyager’s expenses up to $15 million. The total purchase price for Voyager is $20 million plus repayments to Voyager’s customers.

The news of Binance.US’s highest bid for Voyager was shared by Binance.US CEO Brian Shroder on Twitter. He mentioned that once the deal is completed, Voyager users will be able to access their digital assets on the Binance.US platform.

The SEC has now requested that Binance.US provide more information about the agreement, the planned business operations, and the ability to close the deal. Binance.US has stated that they are willing to comply with the SEC’s request and look forward to completing the transaction. It remains to be seen if the SEC will approve the takeover of Voyager Digital’s assets by Binance.US.