April 26 (Cointime) - Bankrupt crypto lender Voyager Digital announced today that it has received a Notice of Termination from Binance.US, terminating the $1 billion acquisition deal between Voyager and BinanceUS.
Voyager assured customers that their Chapter 11 bankruptcy plan will continue to allow for direct distribution of cash and cryptocurrency to customers through the Voyager platform.
"Consistent with the plan, we will now move swiftly to return value to customers via direct distributions. We will provide more information on next steps and any actions customers need to take in the coming days." the firm wrote in a tweet.
1/ Today we received a letter from https://t.co/yG7Airmib5 terminating the asset purchase agreement. While this development is disappointing, our chapter 11 plan allows for direct distribution of cash and crypto to customers (a “toggle option”) via the Voyager platform.
— Voyager (@investvoyager) April 25, 2023
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2/ Consistent with the plan, we will now move swiftly to return value to customers via direct distributions. We will provide more information on next steps and any actions customers need to take in the coming days.
3/ Our court filing, which details these developments, is available here: https://cases.stretto.com/public/x193/11753/PLEADINGS/1175304252380000000171.pdf
4/ Under the terms of the asset purchase agreement, http://Binance.US is required to destroy all customer information that it has received and permanently close and remove any accounts established with Voyager customer information.
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