Voyager Finally Strikes A Deal With the US Government to Allow Binance.US Acquisition
The Binance.US’s proposed acquisition of bankrupt crypto lender Voyager Digital has seen multiple ups and downs with regulators blocking the deal from going through over the past few months.
However, in a recent development, Voyager has finally confirmed that the Unsecured Creditors Committee (UCC) has finally reached an agreement with the U.S. government that will allow the plan of moving forward with the acquisition.
In the latest update on Wednesday, April 19, Voyager noted:
The resolution is embodied in a joint stipulation providing that the appeals will continue with respect to the Plan’s exculpation provision. The Government has agreed that the Plan may move forward without such provision and will not otherwise be subject to the stay. Voyager and the UCC are working with Binance.US to move forward as quickly as possible once this stipulation is approved by the District Court.
After the collapse of the Terra ecosystem last year in April 2023, crypto lender Voyager Digital came into major trouble as it faced heavy liquidity demand amid huge withdrawals. Soon after, Voyager filed for Chapter 11 bankruptcy.
Binance.US had shown interest in acquiring the assets of Voyager Digital quite earlier and was in a race with FTX who had shown a similar interest. However, crypto exchange FTX went out of the equation following its own bankruptcy in November last year.
With Voyager Acquisition, Will Regulatory Troubles End for Binance?
Alike other top crypto exchanges in the market, crypto exchange Binance has also been facing the wrath of US regulators in recent times. Last month, the U.S. Commodities and Futures Trading Commission (CFTC) sued Binance.US for violating the derivatives laws of the country.
Furthermore, the CFTC also accused Binance and its employees of instructing US customers to use virtual private networks (VPNs) to obscure their locations. This way they also helped customers to use their platforms without providing their proof of identity.
- Expert Explains Pi Network–Sign Meeting, Says It Could Trigger Binance Listing
- Is Trump Family, Mr. Beast Buying ASTER Token? Rumors Gain Strength
- Solana ETF Update: Grayscale, Fidelity, Others Files S-1 With Staking, Approval Expected in Two Weeks
- Cyber Hornet Seeks SEC Nod for S&P 500 and XRP ETF
- Cathie Wood’s Ark Invest Eyes Stake in Tether as USDT Issuer Targets $500B Valuation
- Solana Price Set for Q4 Surge as Canary Capital ETF Filing Meets Wyckoff Accumulation
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
