Though New York’s bankruptcy court signed off on Binance.US’ plan to purchase Voyager’s distressed assets, the United States government is making an effort to block the billion-dollar deal.
The U.S. Department of Justice’s Trustee Office filed an appeal against Binance.US’ acquisition of bankrupt crypto lender Voyager Digital’s assets roughly one day after New York bankruptcy judge Michael Wiles approved it.
“Things have to be done,” Judge Wiles said during the hearing. “We have creditors who are waiting and who in the midst of all of this uncertainty have no access to property in which they’ve invested, in some cases, their life savings, so we have to take some kind of action,” he added.
The DoJ’s appeal follows similar opposition from other regulators — including the Securities and Exchange Commission, which filed an objection to the deal last month, citing a potential violation of federal securities laws through the unregistered operation of a securities exchange.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.