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Voyager-Binance Deal Moves Forward After Further Deliberation

Crypto News - George Georgiev 2023-04-20 17:30

The deal was previously halted by the SEC, given the green light, and stopped again by the CFTC and U.S. District Courts.

  • After Binance US and Voyager Digital reached an agreement for a buyout, the process of getting the deal approved began.
  • At first, the SEC and the DOJ requested more time to gather evidence that could block the sale.
  • However, the motion was denied by the judge presiding over the case, who stated that he could not hold up a solution agreed upon by both businesses and anxious creditors without good reason.
  • Creditor’s hopes of a speedy restitution were dashed shortly after when, following pressure from the CFTC – who was in the middle of an investigation into Binance US’s dealings – the deal was once again halted on the 27th of March.
  • Nevertheless, the plan has now been approved, following a joint resolution reached by Voyage, Binance US, the committee of unsecured creditors, and the courts.
  • Although the exact date when the deal will be set in stone is still unknown, it is expected to go into effect as soon as possible, ending a case that has been dragging on since last summer.

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