Binance.US has terminated an agreement to purchase the bankrupt crypto broker, Voyager. The much-contested deal had gotten approval from unsecured creditors only on April 19.

Binance.US has terminated its asset purchase agreement with crypto lender Voyager Digital. The company pointed to the “hostile and uncertain” regulatory climate in the United States, which has impacted the “entire American business community,” according to a statement released by Binance.US on Tuesday.

The company emphasized its focus on building a secure platform for its customers to engage in the digital asset economy. Voyager was the first to comment on events, posting a thread to Twitter in which it said:

“Today we received a letter from Binance.US terminating the asset purchase agreement. While this development is disappointing, our Chapter 11 plan allows for direct distribution of cash and crypto to customers (a “toggle option”) 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 had stepped in to acquire Voyager’s assets after a previous deal with FTX fell apart. The acquisition faced regulatory opposition, and a federal judge temporarily halted it last month to give the US government more time to pursue challenges. Voyager has been trying to raise funds through asset sales to repay creditors after declaring bankruptcy last year.

The Official Committee of Unsecured Creditors only just approved the latest deal on April 19, after a rocky few months.

Voyager Digital was once a thriving crypto lending and trading platform with 3.5 million users and $5.9 billion in assets. But last July, the company filed for Chapter 11 after making immense unsecured loans to a failed hedge fund, Three Arrows Capital (3AC).

The Voyager deal is just the latest casualty of America’s turn against crypto. One of the industry’s giants, Coinbase, has recently taken steps toward moving operations to Bermuda. Other exchanges and firms may well follow suit as SEC Chair Gary Gensler carries on his vendetta.

The post Binance.US Walks Away From Voyager, Citing “Hostile and Uncertain” Climate appeared first on BeInCrypto.

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