3 months ago 1 min read

Voyager Digital's $1B Acquisition by Binance.US Being Considered


The assessment's outcome could affect the parties' ability to complete the transactions, the timeline for completion, or other factors, according to the notification.

Depending on how complex the transaction is, this process, which is entirely optional but strongly suggested, may take anywhere from 30 days to more than 12 months.

In order to protect American infrastructure, technology, and intellectual property from being used unfairly by parties whose interests clash with those of the United States, CFIUS is an essential component. Additionally, this includes both domestic and international organizations.

The document claims that bankruptcy courts in such circumstances assess a bidder's eligibility in light of CFIUS reviews as well as other potential national security concerns.

The cryptocurrency loan platform operated by Voyager will be acquired by Binance.US, the cryptocurrency exchange's US-based affiliate, for $20 million in cash and cryptocurrency assets that would be used to reimburse Voyager's customers.

By negotiating an agreement with Voyager that would immediately give its customers access to restricted money, Binance.US defeated rivals like rossTower, Wave Financial, and INX.

CFIUS noted in its court brief that bankruptcy courts have on occasion found that a company's right to bid on assets in bankruptcy can be constrained by national security reasons, though it did not address any security concerns raised by the Voyager transaction directly.

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