SEC Questions Binance.US’s $1 Billion Purchase of Voyager Digital’s Assets

The SEC Raises Concerns Over Binance.US’s $1 Billion Purchase of Voyager Digital’s Assets

The Securities and Exchange Commission (SEC) is closely monitoring the crypto space as it seeks more information about the proposed $1.02 billion purchase of Voyager Digital’s assets by Binance.US. The SEC filed a limited objection to the deal, questioning the exchange’s ability to handle a transaction of this magnitude.

Voyager Digital, a crypto lender that filed for bankruptcy protection last year, is looking to sell its assets to Binance.US. However, the SEC has raised concerns about the lack of detail regarding how Binance.US plans to safeguard customer assets and rebalance its cryptocurrency portfolio.

In a filing dated January 4, the SEC stated that it has communicated its concerns to Voyager Digital’s counsel and expects a revised Disclosure Statement to be filed before a hearing on the matter. The regulator’s intervention comes amid a series of blow-ups in the crypto industry, including the collapse of algorithmic stablecoin TerraUSD and the speculator crash of crypto exchange FTX.

In addition to the SEC’s objection, the Texas State Securities Board and the Texas Department of Banking have also raised concerns about the sale of Voyager Digital’s assets to Binance.US. They claim that both companies are not in compliance with Texas law and are not authorized to conduct business in the state.

As the crypto industry continues to face regulatory scrutiny, the outcome of the proposed deal between Voyager Digital and Binance.US remains uncertain. Stay tuned for updates on this developing story.