Binance.US terminates asset purchase agreement with Voyager
Voyager, which filed for bankruptcy under Chapter 11 in July 2022, announces that it has received a notice from Binance.US terminating the asset purchase agreement from December 2022.
On April 25, 2023, the Debtors received the Notice of Termination of the Asset Purchase Agreement from Binance.US.
The Debtors reserve all rights with respect to Binance.US’s purported termination of the Asset Purchase Agreement including, without limitation, with respect to the reverse termination fee owed by Binance.US to the Debtors under the Asset Purchase Agreement and the $10 million Deposit made by Binance.US to the Debtors.
At this time the Debtors intend to exercise the toggle to the Liquidation Transaction provided under the Plan whereby the Debtors will return crypto and cash directly to creditors via the Voyager platform.
Let’s recall that in December, Voyager and FTX US informed the Court about the termination of their asset purchase agreement.