A bankruptcy judge has ruled that Voyager Digital is allowed to sell its assets to Binance.US, Bloomberg News reported March 7.
The U.S. Securities and Exchange Commission (SEC) previously contested the deal, arguing that the arrangement could undermine its attempts to regulate the crypto industry. The judge showed resistance to the regulator’s claims in earlier proceedings.
The deal is estimated to be worth $1 billion. If Voyager and Binance.US agree to go forward with the deal, proceeds will be distributed to former Voyager users.
The U.S. SEC may, however, appeal the decision.
Voyager halted withdrawals and filed for bankruptcy in the summer of 2022. It was one of many firms that did so following the collapse of the crypto lending firm Celsius.
More details to follow…
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