Dec 30 (Reuters) – Binance’s $1 billion acquisition of bankrupt crypto lender Voyager Digital could be delayed or blocked by a US national security review, according to a bankruptcy court filing Friday.
US-based crypto exchange affiliate Binance.US intends to buy crypto lending platform Voyager with a bid that includes $20 million in cash and crypto assets to be used to repay Voyager customers.
But the Committee on Foreign Investment in the United States (CFIUS), the interagency body that examines foreign investment into US companies for national security risks, said Friday its review “could affect the parties’ ability to complete transactions, turnaround times, or relevant terms.” .”
Attorneys for Voyager and Binance.US did not immediately respond to requests for comment Friday.
CFIUS is increasingly being used by Washington as a tool to deter Chinese investment in the United States.
Binance, is owned by Chinese-born, Singapore-based Changpeng Zhao and does not have a permanent headquarters. The company has been the subject of a money laundering probe by US prosecutors. Binance.US, based in Palo Alto, California, said its separate American exchange was “completely independent” from the main Binance platform.
CFIUS did not mention any specific security concerns posed by the Voyager acquisition in its court filings, but said bankruptcy courts sometimes ruled that national security concerns could prevent companies from bidding on assets in bankruptcy.
Voyager filed for bankruptcy in July, months after the crash of major crypto tokens TerraUSD and Luna sent shockwaves across the digital asset industry.
Voyager originally planned to sell its assets to FTX Trading, but the deal was scrapped when FTX went bankrupt in November amid a frenzy of customer withdrawals and fraud allegations that led to founder Sam Bankman-Fried’s arrest.
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$1.4 Billion FTX Deal for Bankrupt Lender Voyager Canceled.
How much does Voyager charge for cashing?
| Feature | Cryptocurrency exchange, digital wallet and USD Coin market |
|---|---|
| Withdrawal Fees | Cryptocurrency: Varies by coin USD Wire Transfers: $50 Voyager has a $10,000 minimum for outgoing transfers |
| Digital Wallet | Yes |
| FDIC Insurance | Yes, but only in USD (through banking partners) |
How much does Voyager charge? Voyager Compared to Others 0.50% spread; trading fees between 1.49% and 3.99% (or a flat fee of $0.99 to $2.99).
Will I be able to withdraw my money from Voyager?
Once the cash advance gates are open, Voyager customers can withdraw up to $100K in cash via automated clearing house (ACH) transfers.
Does Voyager charge to sell?
Voyager is a new mobile-based crypto exchange that lets you trade and invest in some of the top cryptocurrencies, from bitcoin to altcoins and meme coins. The exchange does not charge any commission for buying and/or selling cryptocurrency. On the same subject : New high-tech tills could prevent more than £500 million of supermarket thefts. This is made possible by Voyager’s intelligent order routing system.
How long does it take for funds to settle on Voyager?
Accessing your cash We expect customers to receive their funds in about 5-10 business days after submitting a request. This may interest you : SMAC donates $ 10,000 to local arts organization News, weather, sports from Worthington, Minnesota.
Why is my Voyager deposit delayed? Once the deposit has been initiated and confirmed on the blockchain, you will see the pending deposit in your transfer history on Voyager. As soon as the required number of confirmations has been made on the blockchain, your deposit will show a “safe” status and the coins will be available for trading in your account.
Does Voyager offer instant deposit?
There is also an “instant deposit limit” with Voyager. This limit defines an arbitrary amount of funds available for trading. Read also : This is how North Korean investors are trying to introduce US crypto companies. Each user starts their instant deposit limit from US$10,000.
How long does it take to process a payment on Voyager?
Once it appears as pending in your account, it is immediately available for sale to USD and exchanged for any coins Voyager has available. It can take up to 40 minutes for the deposit to clear completely.
How long do Voyager deposits take to clear?
Note: For security purposes, there is a 5 business day hold on all new deposits before your funds can be transferred out of your account. Was this article helpful?
How long do crypto withdrawals take on Voyager?
According to his decision, the business has an “adequate foundation” to support his request, and he estimates clients will receive their money within 5 to 10 business days of filing a claim.
How long does it take for a Voyager transfer to a bank? Upon completion of the trade, we will then return your funds via the electronic ACH link to your bank account, which usually takes another 1-2 business days, but can take a day or two longer depending on where the funds were sent.
How long does it take to transfer out of Voyager?
Once cash advance is enabled, Voyager customers can withdraw up to $100K in cash via automated clearing house (ACH) transfers within a 24 hour period.
Does Voyager have instant withdrawal?
“Once cash advances are enabled, customers can request a withdrawal of up to $100,000 via ACH in a 24 hour period,†the Voyager blog post concludes.
Is Voyager going to stop?
Even if science data is unlikely to be collected after 2025, engineering data may continue to be returned for many more years. Both Voyager spacecraft could remain within range of the Deep Space Network until around 2036, depending on how much power the spacecraft still has to transmit signals back to Earth.
Is Voyager crypto in trouble? Voyager’s problems arose after the company extended a $670 million loan to crypto hedge fund Three Arrows Capital (3AC) in early 2022. When 3AC defaulted on its loan obligations in late June, it caused a financial cascade that pushed Voyager into bankruptcy and 3AC. the founder is hiding.
Is Voyager still active 2022?
In 2022, Voyager is still operating beyond the heliosphere in interstellar space.
Is Voyager 1 shutting down?
Voyager 1’s extended mission is expected to continue until around 2025, when its radioisotope thermoelectric generator (RTG) will no longer supply enough electrical power to operate its scientific instruments.
