Regulators are asking questions as to how Binance.US can gain the money for a buy expose of such magnitude.

The U.S. Securities and Alternate Commission filed a miniature objection to Binance.US’s proposed acquisition of bankrupt crypto lender Voyager Digital’s property, CoinDesk reported on Wednesday.

The SEC raised questions on Binance.US’s disclosure assertion, suggesting the solutions supplied did not adequately gift how the crypto commerce would possibly perchance perchance per chance “consummate a transaction of this magnitude.” The regulator also questioned how Binance.US plans to assemble customer property and rebalance its crypto portfolio.

Final month, Voyager acknowledged it had reached an agreement with Binance’s U.S.-basically based completely mostly subsidiary after the commerce expose $1.022 billion to originate its property. The agreement would pave the trend for customer property to be unlocked as quickly as seemingly, Voyager acknowledged.

Voyager is scheduled to look in court on Jan. 5, where this is capable of perchance gaze reputation of the sale of its property as section of its voluntary restructuring process.

Voyager filed for financial destroy protection in July after the collapse of crypto hedge fund Three Arrows Capital. At the time of the filing, Voyager acknowledged that Three Arrows Capital owed the firm $650 million.

The beleaguered crypto lender became once residing to be bought by the now-defunct crypto commerce FTX in a deal that became once launched in September. At the time, FTX emerged because the best bidder with a $1.4 billion provide for Voyager’s property.

Except the commerce’s collapse the following month, no questions or concerns were indicate by any authorities, at the side of the SEC.

“We were insecure, disgruntled, dismayed,” acknowledged Voyager’s financial destroy attorney Joshua Sussberg in a Nov. 16 financial destroy listening to reported by Bloomberg.