Binance’s Bid to Acquire Voyager Digital Has Been Pushed Back by the SEC

By mid-December, Voyager Digital announced its intention to sell these assets once again this time, to Binance U.S. Voyager Digital got a much better deal than its fallen competitor, paying just over $1 billion for the assets. Unfortunately, SEC issued a limited objection to Binance U.S.

Due to a sharp drop in the value of cryptocurrencies and significant cash flow, Voyager Digital filed for Chapter 11 bankruptcy in the Southern District of New York on July 5th, 2022. Crypto and Voyager Digital‘s CFO Resign while bankrupt. Voyager formerly stated that FTX had won the auction for its assets with an offer of $1.4 billion. However, this plan has been abolished following the collapse of FTX. Later, Voyager Digital reportedly accepted Binance.US’ s offer to buy its assets. The deal is worth a total of about $1 billion. Voyager stated the Binance bid was the “highest and best bid for its assets” However, recently SEC issued a limited objection to Binance U.S., saying that Voyager Digital needs to offer more information to the SEC regulators regarding what would occur if the transaction was not completed by April 18. Binance is not the only bidder， another crypto trading platform INX used to submit bids to acquire Voyager assets as well. Binance.US, based in Palo Alto, California, has said that its separate American exchange is “fully independent” of the main Binance platform. It seems that SEC suspects Binances ability to close the transaction.

The unexpected bankruptcy of FTX caused a massive loss of investors' funds, which led to a crisis of trust in the currency circle. Plenty of investors also have doubts about Binance's reliability. Binance is owned by Chinese-born and Singapore-based Changpeng Zhao and has no permanent headquarters. The company has been the subject of a money laundering probe by US prosecutors. Binance.US, based in Palo Alto, California, has said that its separate American exchange is “fully independent” of the main Binance platform. Although Changpeng Zhao has repeatedly stressed on Twitter and talking shows that Binance runs well to calm investors. Still, many investors say they can't withdraw from Binance or the requests for withdrawal are delayed.