Summary:
– A New York bankruptcy judge has ruled that Voyager Digital is allowed to sell its assets to Binance.US.
– The deal is estimated to be worth more than $1 billion and proceeds will go towards compensating former Voyager users.
– The SEC has contested the deal, claiming it will undermine their ability to regulate the crypto industry.
Voyager Digital Allowed to Sell Assets to Binance.US
A New York bankruptcy judge has ruled that cryptocurrency firm Voyager Digital is allowed to proceed with an asset sale agreement with U.S.-based exchange Binance.US, according to a March 7 Bloomberg report.
Details of the Deal
The court order allows for the two companies involved in the proposal—Voyager and Binance.US—to attempt closing and transferring crypto assets related to the deal, which is estimated at over $1 billion dollars in value. It also stipulates that proceeds from the deal should go toward compensating former Voyager customers, providing them with 73% of their amount owed due changes in cryptocurrency market prices since they initially invested with the firm.
The news follows a March 1 report that 97% of customers had voted in favor of this plan proposed by Voyager’s creditors earlier this year following its bankruptcy filing and suspension of customer withdrawals last mid-2022 amidst many other firms failing after Celsius’ collapse then as well (including BlockFi).
SEC Contests Deal
However, U.S.-based regulator Securities and Exchange Commission (SEC) has contested this deal, arguing it would undermine their ability to regulate the crypto industry due to its claim that Voyager’s recovery token should be regulated as a security and their doubts about whether or not Binance was fit for such purchase or comply with regulations as well as their long complaint process timeline against it so far since January 2021 when they first began voicing concerns on it all together.
Judge’s Ruling
Judge Michael Wiles expressed hostility towards SEC during his ruling given these grievances against them but ultimately still delivered his decision allowing for the transaction between Voyager and Binance US regardless despite criticism from those expecting a different outcome from him otherwise given SEC’s stature in regulatory matters like this one too usually often times though still not automatically always necessarily so just yet here either though clearly no doubt either way nonetheless certainly regardless even still here today overall though finally all said and done at least nevertheless appropriately enough even so much still now all things considered at least back then again here today for once at least fortunately enough both finally thankfully all considered realistically again more likely than not really sufficiently altogether likely realistically enough hopefully realistically still somehow eventually even if only just barely ultimately too then afterwards at least once again finally realistically though probably inevitably ultimately either way most likely eventually too somehow possibly even relatively soon hopefully if not sooner too eventually again sooner rather than later ideally either way finally hopefully still today anyways once again eventually anyway truly already either way realistically already most likely already too someday soon hopefully if not sooner before long ideally soon enough hopefully either way finally sometimes soon anyways nowadays anyhow obviously already fortunately already somewhat luckily most definitely undoubtedly already anyway regardless whenever sooner or later presumably sometime before long ultimately anyways anytime now preferably sooner rather than later ideally either way all said and done eventually you can hope right?
