The $1 billion settlement over the assets of Binance’s US subsidiary Binance.US and bankrupt crypto lending platform Voyager Digital has been challenged by the US Securities and Exchange Commission (SEC).
SECBinance.US’ bankrupt Voyager Digital 1 billion dollars to take over “limited appeal” found. As the reason for the objection “lack of necessary information” was put forward and more details of the agreement were requested. SEC officials emphasized that they are especially curious about how the financial statement of Binance.US will look after the deal.
The difference between a limited appeal and a regular appeal under US law is that a limited appeal only focuses on specific issues rather than the entire file.
Binance.US and Voyager for assets left after bankruptcy in the past weeks $1.02 billion had reached an agreement. In accordance with the terms of the agreement, all transactions of Binance.US are made at the latest. April 18, 2023 otherwise Voyager has the right to withdraw from the agreement. Objecting to this issue, the SEC 18 AprilHe requested that he provide more details on what would happen if it was not completed by .
In the limited objection of the SEC, Binance.US “the ability to perform a transaction of this magnitude” The fate of customer assets was also brought to the agenda, while the issue of ownership The SEC said it has raised its concerns to Binance.US’ attorney and that a revised disclosure statement will be submitted before the next hearing on the motions.
Moreover “different privileges granted to creditors in certain states” The SEC front, which also objected, requested a detailed explanation from Binance.US officials.