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US Trustee Appeals NY Judge’s Approval of Voyager Deal With Binance.US

The United States Department of Justice (DOJ) has filed an appeal against the latest decision in the case for the selling of assets between Voyager Digital and Binance.US.

On March 8, the U.S. Trustee for Region 2 made the appeal to the U.S. District Court for the Southern District of New York against the approval of Voyager Digital’s Chapter 11 bankruptcy plan.

The chapter 11 plan was confirmed only a day prior, on March 7, by U.S. bankruptcy judge Michael Wiles. This plan would have allowed the former crypto brokerage company to go forward with selling billions of dollars in assets to Binance.US in an effort to regain liquidity to pay back customers. 

The U.S. Securities and Exchange Commission (SEC) has been outspokenly against this deal. The financial regulator has said this asset restructuring plan and Binance.US’ acquisition could be in breach of securities law.

In a court filing from Feb. 24, the Texas State Securities Board and the Department of Banking also objected to the deal with Binance.US.

(By SAVANNAH FORTIS)

Voyager Token Voyager Token $0.01
-2.18%
Voyager Digital Binance.US
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