Bloomberg Law
Jan. 5, 2023, 12:12 AM

SEC Pushes Back on Binance.US Deal to Buy Voyager Digital (1)

Yueqi Yang
Yueqi Yang
Bloomberg News

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.

“A diligent review of the deal is to be expected ...