Binance.com was an initial bidder for Voyager’s assets in September 2022, but was beaten out by the now-defunct FTX. Binance’s bid for the US-based Voyager was alsoBinance founder and CEO Changpeng Zhao “CZ” was born in China but is a Canadian citizen. Binance also maintained that it is a global company.CFIUS reviews foreign entities looking to purchase companies with U.S. operations. It blocks transactions that seemingly pose a national security risk to the US.
When a foreign investor proposes an acquisition or merger involving control of a US-based company, the CFIUS must review it. This is to ensure that there are no national security concerns regarding the entity in the country. This is a voluntary process that can take anywhere from 30 days to over a year, depending on the transaction. The committee is also empowered to suspend any suspicious transactions.
If negotiations fail, the committee has the authority to block any such transactions that it deems harmful to US interests. CFIUS is critical in protecting US technology, intellectual property, and critical infrastructure from exploitation by foreign or domestic parties acting against US interests.Subscribe to get it daily in your inbox.