A Second Time for both Voyager and Binance

sunsilk

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Quote from: Darker45 on April 25, 2023, 10:43:12 PM

Considering that Binance won't really have to produce that $1 billion, is it just having fun messing around here, giving false hope to the beleaguered users?

Probably just messing around because it's still a publicity on their end. Because in the first place about offering a helping hand to the potential crash of FTX before it has fully wiped out, they should have seen already the future that it's literally going down but then still said that they were there to help.

And then the thing happened that everybody knew.

It's still got a lot of competition and with the regulations being placed on them, they seem to be not worried but then what if they're the next one to bite the dust?

We may not know it since they're good at mind conditioning their customers that everything is safu.

Darker45

legendary

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Quote from: LeGaulois on April 26, 2023, 11:28:25 AM

What about Binance just looking to troll the USA?

It seems to me they're trying to show how influent they can be or something around. (Forget about users, they don't care about them, as they don't care about crypto. The only thing that matters for a company is the money)

I rather see it as a frustration between Binance and the country. The regulation has nothing to do and I truly see another reason. A reason more on the polittical side. You can ask, WTF has binance to do with politic? That's called lobbying

It's more of trolling but probably with a bit more serious or deeper motive, although it must be a combination. It also looks like Binance is posturing, trying to send a message that it matters, and that if only the state and federal regulators were friendly to them and make things a bit easier, they actually have something to offer.

Or is this just marketing, a subtle effort to create a good image to the public? They also appeared to help FTX but cited certain reasons in the end not to push through. They also made mention of $2 billion to help crypto companies who struggled during the crypto winter. I don't know where it went. Now, they're also trying to help Voyager.

LeGaulois

copper member

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Top Crypto Casino

What about Binance just looking to troll the USA?

It seems to me they're trying to show how influent they can be or something around. (Forget about users, they don't care about them, as they don't care about crypto. The only thing that matters for a company is the money)

I rather see it as a frustration between Binance and the country. The regulation has nothing to do and I truly see another reason. A reason more on the polittical side. You can ask, WTF has binance to do with politic? That's called lobbying

Darker45

legendary

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Quote from: malcovi2 on April 25, 2023, 11:00:54 PM

It's the regulation why Binance backed-out from this deal.

https://cointelegraph.com/news/binance-us-backs-out-of-1b-voyager-asset-purchase-blames-regulatory-environment
https://www.morningstar.com/news/marketwatch/20230425474/binanceus-backs-out-of-buying-voyager-citing-hostile-regulatory-climate

It's also the reason why Coinbase is suing SEC and they also may move out of U.S.A.

https://www.coindesk.com/policy/2023/04/25/coinbase-asks-for-court-to-force-sec-response-to-2022-rulemaking-petition/

There's a difference between the deal can't legally push through and the deal is unilaterally cancelled, by Binance in this case. They have the green light. They can make it happen. They can push through with the plan. So, it can't be a reason that the regulatory environment is hostile because there is no legal impediment anymore. At best, it can only be used as an excuse or alibi not to proceed with the agreement. That's what Binance is doing right now.

Also, when they made the offer, was the regulatory environment any different? No, it was the same. It was the same hostile, uncertain, and unfriendly environment.

Voyager is now even considering possible legal claims against Binance. It can't do that if it was the regulators who put a halt to the agreement.

It seems to me Binance is tripping, or at least acting to be helpful or a savior because they assume things wouldn't push through. And when everything has the green light, they would just back out.

malcovi2

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It's the regulation why Binance backed-out from this deal.

https://cointelegraph.com/news/binance-us-backs-out-of-1b-voyager-asset-purchase-blames-regulatory-environment
https://www.morningstar.com/news/marketwatch/20230425474/binanceus-backs-out-of-buying-voyager-citing-hostile-regulatory-climate

It's also the reason why Coinbase is suing SEC and they also may move out of U.S.A.

https://www.coindesk.com/policy/2023/04/25/coinbase-asks-for-court-to-force-sec-response-to-2022-rulemaking-petition/

Darker45

legendary

Activity: 2576

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When Voyager went bankrupt in July of 2022, FTX came to the rescue and offered a bail out. Months later, FTX itself filed for its own bankruptcy. The hopes of Voyager depositors were crushed.

Binance, then, offered to buy the sinking FTX only to back out of the deal in the end. The hopes of FTX users were crushed.

Binance, Binance US in particular, then, offered the purchase of Voyager at $1 billion, with a plan to give back to its users a significant portion of their funds. The SEC objected. The Texas State Securities Board objected. The US Federal Trade Commission objected. Binance fought for it.

But just when the government agencies finally decided not to pursue challenging the deal in courts, Binance suddenly terminated the purchase agreement citing no specific reason, once again crushing the revived hopes of its users. The only reason mentioned is the usual hostile regulatory climate. Although that has some truth, why bring it up just as the legal contestations are withdrawn? Just when the agreement could finally be sealed and implemented?

Considering that Binance won't really have to produce that $1 billion, is it just having fun messing around here, giving false hope to the beleaguered users?

1. https://www.bloomberg.com/news/articles/2023-04-25/binance-us-terminates-deal-to-buy-bankrupt-crypto-firm-voyager
2. https://twitter.com/investvoyager/status/1650921887512272917

Topic: A Second Time for both Voyager and Binance (Read 94 times)