A New York judge has ruled in favor of Binance.US in its acquisition of Voyager Digital, a bankrupt brokerage company. The decision was made by Judge Michael Wiles of the United States District Court for the Southern District of New York, who stated that any delay in the deal would be harmful to the interests of Voyager’s former clients, who are waiting for the return of their funds.
In his ruling, Judge Wiles reiterated his prior approval of Voyager Digital’s Chapter 11 bankruptcy plan, which involves the sale of billions of dollars in assets to Binance.US in order to regain liquidity and repay customers. He denied the U.S. government’s motion to halt the acquisition, stating that the government’s accusations of fraud, theft, and tax avoidance were exaggerated and mischaracterized.
The court’s approval of Binance.US‘ acquisition of Voyager was granted on March 7, with Judge Wiles permitting the trading platform to close the sale and issue repayment tokens to impacted Voyager customers. The plan is expected to result in Voyager creditors recovering approximately 73% of the value of their funds.
The U.S. Securities and Exchange Commission had argued against the acquisition, claiming that redistributing funds from Voyager to Binance.US would violate U.S. securities laws. However, Judge Wiles rejected these arguments, allowing the acquisition to proceed.
This decision is a significant victory for Binance.US, as it will allow the trading platform to expand its operations and better serve its customers. It also ensures that Voyager’s former clients will receive their funds in a timely manner, without further delays or complications.
If you are tired of waiting on Bitcoin and want to engage in crash-proof crypto trading, Binance.US is an excellent option to consider. With this acquisition, the platform is poised for continued growth and success in the world of cryptocurrency trading.