Binance.US & Voyager's $1B Deal Opposed by SEC
In mid-2022, crypto broker Voyager Digital filed for bankruptcy, citing market conditions. A host of companies lined up to throw Voyager a life jacket and help it avoid insolvency. At the time, FTX was a top contender. Post its collapse, the planned acquisition failed. In January 2023, Binance.US managed to garner the court’s approval for the same. Binance.US was supposed to acquire the crypto assets and customer deposits of Voyager Digital via a $1.02 billion deal. Also Read: Binance garners court approval to acquire bankrupt firm Voyager Digital At press time, the SEC has now opposed Binance.US’s deal to purchase Voyager’s assets. The regulatory agency, via its recent court filing, said that the deal could end up being unlawful and discriminatory. Additionally, other proposed tangents in the Binance.US Voyager deal might also be non-compliant with the law. The SEC indicated that the means of repaying back Voyager ’s former customers was one such aspect. Ela...