Court Approves Voyager Digital's Acquisition by Binance.US

After lot of hard time Binance crypto exchange face with Security Exchange Commission on Acquisition of Voyager's Digital assets, before the court in Southern District intervene and get it approved.

image create using Adobe

Binance the largest crypto exchange set $1 billion to acquire the bankruptcy brokerage company Voyager digital when the company is in brinks of collapse. The deal was interrupted by SEC and NYDFS that Binance crypto exchange lack regulations and the exchange is selling security. This really caused reaction why SEC are putting much pressure on Binance even when it set to help Voyager client buy paying Voyager debt as part of the deal.

The court of law shun SEC over this forced on Binance acquisition and restrict them not to intervene in bankruptcy case. However, in court proceeding,it was confirmed yesterday that court in Southern New York approval the deal of Voyager bankruptcy company to sell it digital assets worth billion of dollars to Binance.US to regain it lost liquidity and pay back it debt.

Judge Wiles proceed this and reject SEC and NYDFS accusations on Binance and give the crypto exchange to close the sale issue repayment tokens to impacted Voyager customers. Saying that SEC arguments on Binance and Voyager violation of law is improper when Voyager customers call for restructuring plan. And the plan is to recovery creditors funds through this deal, means the deal means a lot to Voyager's customers.

The court approval is a big win for Voyager and Binance.US especially for Voyager to repay its impacted customers through the deal. And for the future court are willing to approve deals that involves bankruptcy case and transfers of digital assets within them, says by Judge Wiles.

I hope after the deal Voyager plan for restructuring and plan to get back to business will be successful.

Posted Using LeoFinance ^Beta