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Voyager-Binance Deal Moves Forward After Further Deliberation

Voyager-Binance Deal Moves Forward After Further Deliberation

The SEC initially halted the deal, then approved it, but it was stopped again by the CFTC and U.S. District Courts.

  • Binance US and Voyager Digital agreed on a buyout, and the process of approval commenced.
  • Initially, the SEC and DOJ requested more time to gather evidence that could prevent the sale.
  • However, the judge ruling over the case denied the motion, stating that he could not hold up an agreement made by the two companies and creditors without a valid reason.
  • Creditors’ hopes of a speedy resolution were dashed when the CFTC pressured to halt the deal again, citing an investigation into Binance US’s activities. This occurred on March 27th.
  • However, the plan has been approved following a joint resolution made by Voyager, Binance US, the committee of unsecured creditors, and the courts.
  • While the exact date of finalizing the deal is unknown, it is expected to occur as soon as possible, bringing an end to a long-lasting case that started last summer.