Binance.US deal with Voyager may fall under federal committee review
Quick Take
- The Committee on Foreign Investment in the United States said in a court filing that there is a possibility that transactions contemplated by Voyager may be subject to review.
An agreement between Binance.US and bankrupt crypto lender Voyager Digital may be subject to review by the Committee on Foreign Investment in the United States (CFIUS), court filings showed.
The review’s outcome “could affect the ability of the parties to complete the transactions, the timing of completion, or relevant terms,” according to the notice.
In such matters, bankruptcy courts take into account CFIUS reviews among other potential national security concerns when determining a bidder’s qualification, said the document.
Beating out other bidders such as rossTower, Wave Financial and INX, Binance.US sought to broker a deal with Voyager that would rapidly restore its customer’s access to locked funds.
Under the terms of the deal now under review, users would ultimately gain access to their digital assets and receive disbursements from Voyager on Binance.US. To get the ball rolling, Binance.US offered to make an initial $10 million deposit and pay Voyager an additional maximum of $15 million for expenses.
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