Binance.US cleared a major hurdle in its effort to acquire the assets of bankrupt crypto lender Voyager Digital in a deal worth over $1b after Michael Wiles, a bankruptcy judge in the Southern District of New York, overruled the various objections to the proposed acquisition. The plan, assembled after previous bidder FTX itself filed for bankruptcy protection in November, had been supported by 97% of Voyager creditors who responded to the proposal, which could see them recovering nearly three-quarters of their holdings.
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Binance.US can move ahead with plan to acquire Voyager Digital's assets, judge rules
"If the government wants to litigate that" Voyager's sale of VGX tokens was an offering of securities, it should have done so, he said, referring to an SEC attorney's statement that the proposed sale may have securities law tie-ups. However, the regulators did not choose to do so; based on the evidence provided during the hearing, Wiles would have had "no choice" but to rule that the transactions were perfectly legal, he added.
