The review by the National Security body could stall or block the deal entirely.
Binance.US Acquisition in Jeopardy
Recent bankruptcy court filings could put the $1 billion acquisition of Voyager Digital by Binance.US in jeopardy. A review from the U.S. Committee on Foreign Investment (CFIUS) in the United States could stall or block the deal entirely.
The CFIUS, which adjudicates and reviews foreign asset takeovers in the US for national security risks, did not mention any specific security concern in documents filed on December 30, according to a Reuters report from Dietrich Knauth.
However, the documents are said to state that CFIUS’ review “could affect the ability of the parties to complete the transactions, the timing of completion, or relevant terms.”
Voyager Digital filed for bankruptcy in July following the major crypto crashes in the Spring. The bid by Binance. US to purchase Voyager includes $20 million in cash and crypto assets that will go back to customers.
Binance, the central exchange, has been the subject of heightened regulatory vigilance following the collapse of FTX. The operations and finance of the parent company to the US franchise have been specifically scrutinized.
Binance.US maintains that the US franchise arm of the world’s largest exchange is completely independent of the central exchange.
What is Binance.US:
Binance.US is the American arm of the world’s largest cryptocurrency exchange platform, Binance. Users on the platform can buy, sell, and trade over 60 popular crypto assets, including Ethereum (ETH), Solana (SOL), BNB Chain (BNB), and Bitcoin (BTC).
Where to find Binance.US:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.