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U.S. Government's Case Against Voyager-Binance.US Merger Given Weight by Judge

A US District Judge has halted the acquisition of bankrupt crypto lender Voyager Digital by Binance.US pending a government appeal. While a previous judge had allowed the acquisition to proceed despite the government's opposition, the latest ruling from Judge Jennifer Rearden requires the two firms to wait for the government to prepare and file its appeal. A court filing in the case showed that 97% of Voyager Digital's account holders supported the acquisition by Binance, but various US regulators have expressed opposition to the deal, including the Securities and Exchange Commission. Voyager Digital filed for Chapter 11 bankruptcy in July 2021, and Binance agreed to acquire the bankrupt crypto lender in a deal valued at $1 billion.

(By Fredrik Vold)

Voyager Token Voyager Token $0.01
+5.44%
Binance.US bankruptcy
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