The bankrupt crypto lender of Binance.US Voyager Digital The bid to buy his company has been hampered by various regulatory hurdles over the past few months.
However, in a recent development, Voyager Digital confirmed that UCC (Committee of Unsecured Creditors) has finally reached an agreement that will allow the acquisition plan to move forward.
In its latest update on Wednesday, April 19, Voyager said: noted:
The solution was embodied in a common specification, which provided for the continuation of appeals regarding the exemption clause. The Government acknowledged that the Plan could proceed without this provision and would otherwise not be subject to suspension. Voyager and UCC are working with Binance.US to move forward as soon as possible after this requirement has been approved by the District Court.
NEWS CONTINUES BELOW
Koinfinans.com As we reported, after the collapse of the Terra ecosystem last year, crypto lending platform Voyager Digital has struggled with heavy liquidity demand following withdrawals. Soon after, Voyager filed for Chapter 11 bankruptcy.
Binance.UShad shown interest in acquiring Voyager Digital’s assets quite early and was in a race with FTX, which showed similar interest. However, crypto exchange FTX was out of the equation after its own bankruptcy in November last year.
With Binance.US, Voyager Digital Relieves Troubles?
Binance is another cryptocurrency company that has suffered from regulatory pressure in the US. Last month, the US Commodities and Futures Trading Commission (CFTC) sued Binance.US for violating the country’s derivatives laws.
The CFTC also accused Binance and its employees of instructing US customers to use virtual private networks (VPNs) to hide their location. In this way, it turned out that they also helped customers use their platform without proving their identity.
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