A New Development Happened In Binance And FTX’s Voyager Competition!

Binance, cryptocurrency An attempt to buy the assets of lender Voyager Digital at auction this week has been complicated by concerns that the US government will reject the transaction.

Binance’s Attempt to Acquire Voyager Digital Tough With National Security Concern

The acquisition of companies operating in the US by overseas entities is being reviewed by the US Committee on Foreign Investment (CFIUS), amid concerns that it poses a national security risk.

A Binance spokesperson said that “xenophobia” underlies a possible scrutiny by the Foreign Investment Committee (CFIUS), the agency that studies foreign acquisitions in the US.

According to the news of the New York Times, during the period of former US President Donald Trump, CFIUS had a colder attitude towards the takeovers of Chinese companies.

Joe Biden also signed a federal government executive order this week designed to curb China’s technology investment and limit citizens’ access to their private data.

Binance has defended itself against claims that the company is Chinese.

company CEO Changpeng Zhao (CZ) This month he revealed details about his identity. Zhao said he was born in China but grew up in Canada and is a Canadian citizen.

At the auction, Binance was asked to add extra money on top of its bid as insurance in case of review by CFIUS.

Patrick Hillmann, the company’s director of communications, said in a statement Friday:

“Binance has invested in numerous American companies, both directly and through Binance Labs. These investments have never been the subject of any formal or informal investigation by CFIUS.”

Sam Bankman-Fried, the billionaire founder and CEO of FTX, made the highest bid for Voyager.

Voyager’s auction will continue until the end of this month.

Time will be given for Binance or anyone else to potentially beat FTX.

*Not investment advice.