As per Voyager’s recent announcement, an agreement has been reached between the Unsecured Creditors Committee, the US government, and Binance, which will allow the US division of Binance to proceed with its acquisition of Voyager.
The Voyager Digital Unsecured Creditors Committee has informed its customers that all restrictions on Binance.US have been lifted by regulatory authorities to enable the completion of the transaction.
The UCC statement stated that the government has approved the Voyager acquisition plan and that it will not be suspended, pending district court approval.
Once approved, the UCC and Voyager will continue to work with Binance.US.
In March 2023, Binance.US was granted bankruptcy court approval to acquire some of the assets of Voyager, a struggling cryptocurrency lender.
However, the SEC raised concerns about the legality and fairness of Binance.US’s $1 billion acquisition of Voyager Digital.
The US Department of Justice appealed the ruling, and state regulators accused the court of overstepping its bounds, seeking a delay in the decision’s implementation.
In early April, Voyager Digital and its creditors filed a counterclaim stating that unresolved legal objections raised by the US government could result in the loss of more than $100 million for the company’s investors, with 1 million customers losing access to their savings.