Deals
SEC Pushes Back on Binance.US Deal to Buy Voyager Digital
The U.S. Securities and Exchange Commission headquarters in Washington, DC.
Photographer: Al Drago/BloombergThis article is for subscribers only.
The US Securities and Exchange Commission is pushing back on Binance.US’s plan to buy bankrupt crypto lender Voyager Digital in a deal valued at about $1 billion, according to a bankruptcy court filing.
The purchase agreement underpinning the deal doesn’t include sufficient detail about Binance’s ability to close the transaction, the SEC said in a limited objection Wednesday. More disclosure is needed about what Binance’s US operations will look like following the deal, along with more information about how customer assets will be secured, lawyers for the SEC said.