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Binance US’s Supportive Acquisition of Voyager Digital Assets

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Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

Most Voyager Digital account holders have accepted the acquisition of The bankrupt cryptocurrency lending company was acquired by the US-based arm of Binance US of The world’s largest crypto exchange.

According to court documents, 97% of account holders with Claims against Voyager supported the US Binance restructuring plan, while only 3% rejected it.

Voters were divided into four groups, including those with an account holder Claims and three groups with Unsecured General Claims. All four groups agreed to the plan.

in court filing on Feb 28th out of Account holders 61,300 with claim, 59,183, or 97%, voted for it support acquisition.

Binance.US agreed in December 2022 to buy Voyager assets for $1.02 billion. The US Binance bid aims to return cryptocurrencies to customers after court-approved payments and platform capabilities.

However, the Texas State Securities Board, Department of State of The banks, and the U.S. Securities and Exchange Commission (SEC) objected to the proposal, citing insufficient disclosures and potential breaches. of Insurance law.

The SEC claimed that the plan is uncertain under US bankruptcy law. At the same time, the state of New York claimed that Voyager had lifted for bankruptcy protection in July, he runs unlicensed business.

On February 22, the Federal Trade Commission also He opened an investigation into Voyager Digital for “Deceptive and unfair promotion of cryptocurrency to public. “

Despite the objections, the creditors overwhelmingly supported the restructuring plan. James Murphy, a securities attorney in Richmond, Virginia, she said, “Any bankruptcy judge would do like To approve the plan attracts 97%. support from creditors. But when you have government The organizers are coming in In the last Accurate to say that aspects of The deal could be illegal – that’s great.”

Binance Defends Restructuring Plan After SEC Objection

A US spokesperson for Binance said the company is ready and will provide the missing data work with Related parties to submit any request information.

The speaker explained that assets They always belong to US-based Binance clients on Platform in The ratio is 1:1 and it is fully shielded.

He went on to say that they are excited to welcome Voyager users to Binance US and are more than happy to do so of They have already support their plan.

However, the Securities and Exchange Commission objected to the plan on 22, indicating that Voyager needed to provide enough information information regarding safety of assets and control of customer wallets.

He. She also The company said failed To prove that the provision to return the frozen funds to investors can be made in compliance with Federal securities laws. According to the commission, Voyager did not provide this information.

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