Binance.US – the American subsidiary of Binance – has won the rights to acquire Voyager Digital’s assets, according to a report by Bloomberg. The bankruptcy judge of the Southern District of New York – Michael Wiles – gave the crypto exchange the green light after four days of the hearing. The judge struck down the claims made by the United States Securities and Exchanges Commission (SEC).
The commission had filed a limited objection to the acquisition in early January 2023. The main question of the commission was how the US crypto exchange was able to afford such a large deal. However, with the judge’s approval, Binance.US will be able to acquire Voyager’s assets for over $1 billion. Moreover, the passing of the deal could result in creditors making a nearly 73% recovery.
The latest court update has given a boost to Voyager’s token – VGX. According to CoinMarketCap, the token has surged by over 23% in just the past hour and was trading at $0.4905 at press time. In addition, the 24-hour and seven-day chart registered an upward trend of nearly 26%.
Source: CoinMarketCap
The story is still developing.
Source: https://ambcrypto.com/binance-us-wins-court-approval-to-acquire-voyagers-assets/