Voyager Unsecured Creditors Committee Disappointed with Binance.US Termination of Asset Purchase Agreement

04/26/2023 01:31 • Metaverse Matters • 123 views

According to reports, the Voyager Unsecured Creditors Committee stated on Twitter that Binance. US has announced the termination of its asset purchase agreement with Voyager. The Voyager Unsecured Creditors Committee is very disappointed with this decision and will initiate potential claims against Binance. US. At the same time, the Voyager unsecured creditor committee and Voyager will consider other options and provide further dynamic updates in the future.

Voyager Creditor Committee: Will initiate potential claims against Binance. US

Introduction

The Voyager Unsecured Creditors Committee is reportedly unhappy with Binance.US after the latter terminated their asset purchase agreement. In a tweet issued by the committee, it stated its disappointment and intentions to initiate potential claims against Binance.US. Additionally, the committee and Voyager are looking into other options and will provide further updates in the future.

Background

Voyager is a publicly-traded crypto-asset broker, and Binance.US is a cryptocurrency exchange that serves customers within the United States. In January 2021, Voyager and Binance.US announced their asset purchase agreement, which would allow Voyager to buy Binance.US for $1. VYGVF, Voyager’s parent company, would issue shares to Binance.US, which would make them the largest shareholder in the company.

Binance.US’s Decision

Recently, Binance.US announced the termination of the asset purchase agreement, and Voyager’s shares did not increase. The Voyager Unsecured Creditors Committee stated via Twitter its disappointment with Binance.US’s decision, which allegedly was due to the time it was taking for the Financial Industry Regulatory Authority to approve the deal.

Potential Claims

The Voyager Unsecured Creditors Committee stated its intention to initiate potential claims against Binance.US due to the breach of the asset purchase agreement. The committee alleges that Binance.US did not abide by the agreement’s terms and has caused financial harm to Voyager investors.

Voyager and the Committee’s Next Steps

Voyager and the Voyager Unsecured Creditors Committee are reportedly considering other options following Binance.US’s termination of the asset purchase agreement. The committee stated that it is looking into other strategic partnerships that could be beneficial for Voyager’s investors. The company has also issued communication encouraging action from shareholders by emailing them a form to create a legal group pursuant to Canadian law.

Conclusion

In conclusion, the Voyager Unsecured Creditors Committee is reportedly disappointed with Binance.US after their asset purchase agreement was terminated. The committee intends to initiate potential claims against Binance.US alleging financial harm to Voyager investors. Voyager and the committee are exploring other options and will provide further updates in the future.

FAQs

What was the asset purchase agreement between Voyager and Binance.US?

The asset purchase agreement between Voyager and Binance.US was announced in January 2021. It would have allowed Voyager to acquire Binance.US for $1, with VYGVF issuing shares to Binance.US, making them the largest shareholder in the company.

Why did Binance.US terminate the asset purchase agreement?

Binance.US allegedly terminated the asset purchase agreement due to the length of time it was taking for the Financial Industry Regulatory Authority to approve the deal.

What are Voyager and the committee’s next steps?

Voyager and the Voyager Unsecured Creditors Committee are exploring other options following Binance.US’s termination of the asset purchase agreement. The committee is reportedly looking into other strategic partnerships that could benefit Voyager’s investors. Voyager has also issued communication encouraging shareholder action by providing a form for a legal group pursuant to Canadian law.

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