Bankrupt crypto broker Voyager said in a tweet on Tuesday it had received a letter from Binance.US terminating the asset purchase agreement.
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The lender said the development is "disappointing," noting its Chapter 11 plan allows for "direct distribution of cash and crypto to customers" via 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."
Binance.US took to Twitter to explain its move. According to the exchange, it terminated the deal due to the "hostile and uncertain regulatory climate in the United States." The conditions in the country have introduced an "unpredictable operating environment impacting the entire American business community," Binance.US claims.
In March, Binance.US got the green light from Judge Michael Wiles after a four-day hearing to buy the assets of Voyager Digital. In December last year, the exchange agreed to buyout Voyager's assets for over $1 billion.
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