The U.S. Securities and Exchange Commission (SEC) has objected to Binance’s U.S. affiliate’s proposed US$1 billion purchase of bankrupt crypto lender Voyager Digital’s assets.

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Fast facts

  • The SEC made a “limited objection” in a court filing on Wednesday, saying that the purchase agreement lacked details of Binance’s ability to close the deal.
  • The SEC also requested more information on the nature of Binance’s business operations following the acquisition.
  • Securities and banking regulators from Texas, New York, New Jersey and Vermont have also objected to Binance’s deal that was announced in December.
  • FTX’s bankrupt trading arm, Alameda Research, has also objected to the purchase, saying it “unfairly discriminates against” Alameda’s claims, as the company is a shareholder of Voyager.
  • Binance and FTX offered the two leading bids for Voyager’s assets in September, before the collapse of FTX and Alameda Research.
  • Voyager Digital accepted Binance’s US$1 billion bid in December, but the acquisition will require court approval to be finalized.

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