US Department of Justice Appeals for Court Approval for Binance-Voyager Agreement

The US Department of Justice (DoJ) has objected to a $1 billion acquisition agreement between Binance’s US subsidiary Binance.US and bankrupt cryptocurrency platform Voyager Digital.

Subsidiary of the US Department of Justice responsible for overseeing bankruptcies US Board of Trusteeshas filed an appeal, challenging the court’s approval of the $1 billion acquisition deal between Binance.US and Voyager Digital. After the agreement between the two institutions was approved by the New York bankruptcy court about a day later This objection from the DoJ did not go unnoticed. The decision before at the US Securities and Exchange Commission (SEC) had opposed.

CZ ignored

Binance CEO Changpeng Zhao When he woke up in the morning, he shared a post expressing that he encountered a lot of FUD news across the market. However, the objection to the Voyager agreement was not included in this post by the CEO.

A user “Why don’t you talk about the Voyager thing?” commented answering CZ to the question “4” sufficed to reply. CZ, who discussed this subject in detail before, won’t bother replying to FUD news and emphasized that he would redirect to item 4 in the said post.

There are too many victims

SEC And DoJpending bankruptcy proceedings in a judge-protected bankruptcy case following a New York court ruling on March 8. will undermine regulators’ operations. arguing Judge Michael Wiles’ decision He said they would go to court about him.

Judge Wilesdescribed the regulators’ stance on the case as disappointing, saying that litigating an operation approved by a federal judge would make it impossible to resolve bankruptcy cases.

Stating that they do not want to prolong the process as lawmakers, Wiles said, that there are many creditors in aggrieved position emphasized:

Something has to be done. We have creditors pending, and in the midst of all this uncertainty, they don’t have access to the properties they’ve invested in, in some cases their lifetime savings. That’s why we have to act somehow.

source site-9