During the proceedings for Voyager’s bankruptcy that are taking place in the Southern District of New York, the Securities and Exchange Commission, the United States Trustee working within the Justice Department, and state regulators from New Jersey and Vermont have all filed motions objecting to Binance US’s acquisition of Voyager.
Read CRYPTONEWSLAND onIn its filing, the SEC questioned the sufficiency of the information that was provided in Binance.US’s disclosure statement. Specifically, the SEC questioned the details provided regarding the ability of the cryptocurrency exchange to “consummate a transaction of this magnitude.”
The SEC also questioned the details provided regarding how Binance.US intends to secure customer assets and how it intends to rebalance its cryptocurrency portfolio.
Both the Texas State Securities Board and the Texas Department of Banking objected to the sale of the property in their own separate filings. They claim that Voyager and Binance.US are “not in conformity with Texas law and are not permitted to do business in Texas,” according to the developing story.
During a hearing that is scheduled to take place on Thursday (Jan. 5), the defunct cryptocurrency lender known as Voyager intends to petition a bankruptcy court for permission to sell its assets.
Binance.US will buy the assets of Voyager Digital for a price of $1.022 billion, according to an announcement made by the firm on December 19th.
According to what Voyager said at the time, the bid consists of the fair market value of Voyager’s cryptocurrency portfolio at a future period that has not yet been established, which was expected to be $1.002 billion, plus extra consideration equivalent to $20 million of added value.
#Binance Labs supports Magic Square's new #IDOplatform focusing on equitable #Web3 investment access.#MagicSquare
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