Regulators are asking questions as to how Binance.US can afford a purchase of such magnitude.

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

The SEC raised questions on Binance.US’s disclosure statement, suggesting the information provided did not adequately prove how the crypto exchange couldconsummate a transaction of this magnitude.” The regulator also questioned how Binance.US plans to secure customer assets and rebalance its crypto portfolio.

Last month, Voyager said it had reached an agreement with Binance’s U.S.-based subsidiary after the exchange bid $1.022 billion to acquire its assets. The agreement would pave the way for customer assets to be unlocked as soon as possible, Voyager said.

Voyager is scheduled to appear in court on Jan. 5, where it will seek approval for the sale of its assets as part of its voluntary restructuring process.

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

The beleaguered crypto lender was set to be acquired by the now-defunct crypto exchange FTX in a deal that was announced in September. At the time, FTX emerged as the highest bidder with a $1.4 billion offer for Voyager’s assets.

Until the exchange’s collapse the following month, no questions or concerns were put forward by any authorities, including the SEC.

“We were shocked, disgruntled, dismayed,” said Voyager’s bankruptcy lawyer Joshua Sussberg in a Nov. 16 bankruptcy hearing reported by Bloomberg.