Alameda Research, FTX’s defunct trading arm, has joined the list of protesters against a plan by rival exchange Binance's US affiliate to buy the assets of bankrupt crypto lender Voyager, according to legal filings posted Wednesday with a New York bankruptcy court.
The transaction has already been opposed by the U.S. Securities and Exchange Commission, which demanded more information on how Binance US could afford the $1 billion deal, and by state securities and banking regulators from Texas, New Jersey, Vermont and New York. The U.S. Trustee, an office within the Department of Justice, also objected, writing, "Given [Voyager's] recent unpleasant experience with FTX US, the Court should not countenance their attempt to rush headlong into another asset purchase agreement without sufficient evidence of due diligence and without affording parties-in-interest a full and fair opportunity for due deliberation."
The filing, made by Andrew G. Dietderich of Sullivan & Cromwell, the law firm representing the FTX group, said that Alameda is a “substantial shareholder” of Voyager. Under a rescue plan made in June, Alameda offered the collapsing Voyager $200 million and 15,000 bitcoin (BTC), of which $75 million in stablecoins still outstanding as of the date of bankruptcy, the filing said.
Related Reading:
Deaton Suspects That The SEC Will Sue Binance.US
SEC Files Limited Objection to Binance.US’s $1B Deal for Voyager Assets
CFIUS Plans to Review Any Deals Made by Bankrupt Crypto Lender Voyager
Investors Seek To Sell FTX, Celsius, BlockFi, Voyager Claims
All Comments