• U.S Department of Justice (DOJ) is trying to block Binance’s acquisition of Voyager assets after the deal was approved by a judge.
• The SEC has raised objections that Binance may be running as an unregistered securities exchange.
• Voyager’s Official Committee of Unsecured Creditors are working with Debtors to oppose any appeal, which could delay creditor recoveries.
U.S DOJ Intervenes in Acquisition
The U.S Department of Justice (DOJ) is attempting to block Binance’s acquisition of the assets from bankrupt crypto lender Voyager, following it being approved by a judge in a four-day hearing. The Securities and Exchange Commission (SEC) raised objections that Binance may be running as an unregistered securities exchange, however Judge Michael Wiles brushed this aside and instead wanted to move things along for creditors to receive their dues.
Committee Opposes Appeal
Voyager’s Official Committee of Unsecured Creditors have been clear that they want creditors repaid and are working with the Debtors to oppose any appeal against the deal, which could significantly delay creditor recoveries if successful.
Benefits of Acquisition
Binance’s purchase of Voyager’s assets would potentially right some wrongs due to its collapse, providing access to those who lost their savings during its downfall. This is why Judge Wiles wanted the process expedited so creditors could get paid sooner rather than later.
Leaks Affecting US Popularity
Recent leaks suggest that Binance US., supposedly a separate entity from the global exchange, is more connected than thought before, leading the SEC on high alert as the DOJ steps in.
The final outcome regarding this acquisition remains uncertain for now until all appeals have concluded and will decide whether many people reap or suffer losses from this process depending on its success or failure respectively.