• The United States Department of Justice (DOJ) has appealed a New York judge’s decision to approve the sale of bankrupt crypto lender Voyager’s assets to Binance.US in a $1 billion deal.
• The approval was opposed by the U.S. Securities and Exchange Commission (SEC) who believe the transaction could involve the sale of unregistered securities, as well as that Binance is being investigated for money laundering rule violations.
• Judge Michael Wiles recently approved the Voyager-Binance U.S. deal despite opposition from US regulators, ordering Voyager to proceed with its $1 billion deal with Binance.US.
U.S DOJ Appeals Judge’s Approval of Voyager Asset Sale
The United States Department of Justice (DOJ) has filed an appeal to review a New York judge’s decision to approve the sale of bankrupt crypto lender Voyager’s assets to the American affiliate of crypto exchange Binance in a $1 billion deal.
Background Information
The approval was opposed severally by the U.S Securities and Exchange Commission (SEC) who believes that the transaction could involve selling unregistered securities, as well as that Binance is being investigated for money laundering rule violations. Despite this, Judge Michael Wiles ruled in favor of Voyager’s proposed plan to sell its assets to maximize value for its stakeholders and creditors and ordered it proceed with its $1 billion deal with Binance US on Tuesday this week.
Appeal Filed By DOJ
The appeal was filed Thursday evening at the United States Bankruptcy Court for the Southern District of New York through the office of the U.S Trustee seeking a review into Judge Wiles’ earlier ruling on Tuesday this week which ordered Voyager to proceed with its $1billion asset-sale agreement with Binance US, according to court documents obtained by CryptoPotato..
SEC Investigating Fraud Violations & Money Laundering
During their second objection filing, SEC requested thatthe deal be turned down as they were investigating whether or not Voyagers violated anti-fraud federal securities laws or not; additionally revealing during their filing that Binance was also being investigated regarding money laundering rule violations..
Conclusion
In conclusion, despite opposition from US regulators against approving this asset-sale agreement between Voyager and Binance US; Judge Michael Wiles still approved it earlier this week leading up to today when DOJ filed an appeal against his ruling at tehe United States Bankruptcy Court for te Southern District Of New York through te office Of Te U.S Trustee seeking a review into his earlier ruling