The proposed Binance.US $1.02 billion deal to acquire assets from the bankrupt crypto lender Voyager Digital is facing significant hurdles. Yesterday, the bankrupt crypto lender sealed a deal with the federal government that allows Voyager to sell its assets to Binance.US. However, the benefits to creditors from an offer from Binance US to buy up bankrupt crypto lender Voyager hinge on a $445 million loan claim by Alameda Research, making the deal potentially not as beneficial as initially hoped. This complex situation raises concerns about the eventual recovery for Voyager creditors.

New York and Federal finance regulators have voiced opposition to the deal, casting doubt on its smooth execution. A $1.02 billion deal by Binance.US to purchase assets of defunct crypto lender Voyager has been opposed by New York and Federal finance regulators, who said in filings that the deal needs further scrutiny. Key concerns revolve around the potential impact on US consumers and the overall stability of the cryptocurrency market.

Adding to the uncertainty, the anticipated return for Voyager creditors remains a key point of contention. Creditors can expect to receive between 40% and 65% recoveries, ideally in crypto, attorneys for the bankrupt crypto lender said in court Wednesday. Voyager Digital was a prominent player before its collapse, leaving many investors facing substantial losses. On Twitter, the Voyager community continues to debate the fairness and potential risks associated with the Binance.US acquisition.

Ultimately, the Binance.US deal's ability to truly benefit Voyager creditors remains uncertain. The regulatory hurdles, the Alameda Research loan claim, and the potential for reduced recovery rates all contribute to a complex and potentially unfavorable outcome for those who lost funds with Voyager.