Binance.US Wins Court Approval To Buy Bankrupt Voyager Digital Assets
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Loading... - Adriana Mercado
- 08 Mar 2023
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Judge Michael Wiles ruled that he cannot stop the Voyager sale to happen while the SEC continues to figure out the problems.
Amid all the back-and-forth over the last week, Binance.US has finally got the approval to acquire the assets of bankrupt crypto lender Voyager Digital. On Tuesday, March 7, Michael Wiles, a bankruptcy judge in the Southern District of New York, overruled all the objections while ruling in favor of the sale.
Under the guidance of the US court, Voyager will sell a total of $1 billion worth of assets to Binance. After Voyager went bankrupt last year, Binance was keen on acquiring the platform’s assets. However, Binance.US had a tough time dealing with the US regulators, especially the SEC.
Last week, reports circulated that Binance was planning to drop the deal amid regulatory pressure. Crypto exchanges like Binance have been facing the heat of growing regulatory scrutiny in the US. Binance chief Changpeng Zhao also confirmed the win by tweeting: “Protect users. Build and build. FUD is temporary.”
Voyager to Reimburse Users
As part of its deal with Binance.US. Voyager Digital plans to reimburse users who lost their money when the crypto lender went bankrupt. Although Binance.US secured the confirmation order from the court, it still has to clear a few regulatory hurdles. Read More..
