SEC Opposes Binance.US’ $1B Deal For Acquiring Voyager Digital

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Brian Shroder, CEO of Binance.US; Photo Source: Bloomberg

The US Securities and Exchange Commission (SEC) has filed a limited objection to Binance.US’ ongoing discussions with Voyager Digital to purchase its assets for $1.022B.

In the court filing, the regulatory body alleged that Binance’s US branch failed to provide necessary information about the proposed deal in its asset purchase agreement (APA). 

The SEC claimed that the APA did not mention how Binance.US will be able to carry out the $1.022B transaction. It has also asked Binance.US to divulge more information on the nature of its operations after it acquires Voyager’s assets.



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Furthermore, the SEC has demanded Voyager to reveal how the bankrupt lender plans to rebalance its crypto portfolio, adding,

“The Disclosure Statement should be revised to make clear that rebalancing will occur not just in a liquidation scenario but also in the context of a sale transaction.”

Meanwhile, the transactions made by Voyager will be scrutinized by CFIUS. Although the agency did not mention Binance.US in its court filing, many speculate that the CFIUS’ review may delay the Binance.US-Voyager takeover deal.

The court hearing on the SEC's motion is scheduled for January 10.

Written by
Ayush Pande

The US Securities and Exchange Commission (SEC) has filed a limited objection to Binance.US’ ongoing discussions with Voyager Digital to purchase its assets for $1.022B.

In the court filing, the regulatory body alleged that Binance’s US branch failed to provide necessary information about the proposed deal in its asset purchase agreement (APA). 

The SEC claimed that the APA did not mention how Binance.US will be able to carry out the $1.022B transaction. It has also asked Binance.US to divulge more information on the nature of its operations after it acquires Voyager’s assets.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Furthermore, the SEC has demanded Voyager to reveal how the bankrupt lender plans to rebalance its crypto portfolio, adding,

“The Disclosure Statement should be revised to make clear that rebalancing will occur not just in a liquidation scenario but also in the context of a sale transaction.”

Meanwhile, the transactions made by Voyager will be scrutinized by CFIUS. Although the agency did not mention Binance.US in its court filing, many speculate that the CFIUS’ review may delay the Binance.US-Voyager takeover deal.

The court hearing on the SEC's motion is scheduled for January 10.

Written by
Ayush Pande