Bankrupt Voyager Digital Acquisition Faced By Opposition

Binance’s attempt to acquire bankrupt crypto lender Voyager Digital is facing opposition from the US SEC and financial regulators.

The SEC and US Trustee and state regulators from New Jersey and Vermont are concerned assets could be moved offshore. The commission has cast doubt on Binance’s financial ability to go through with the over $1 billion transaction.

The SEC questioned the adequacy of the information in Binance US’s disclosure statement and raised concerns over the exchange’s financial ability to go through with the $1 billion acquisition.

Federal and State agencies objected to the possibility that assets could be moved offshore and it would be harder to recover them on behalf of consumers. The SEC has cast doubt on Binance’s ability to go through with the $1.02 billion purchase of the bankrupt firm’s assets.