Voyager and Binance's deal had previously received opposition from CFIUS as well as SEC.
Voyager and Binance’s deal had previously received opposition from CFIUS as well as SEC.
The United States District Judge Michael Wiles of the bankruptcy court for the Southern District of New York on January 10th approved Voyager to work out a purchase agreement with the crypto exchange and to solicit creditor votes on the sale., the deal will not become final until a future court hearing. Besides, the confirmation hearing is scheduled for March and will require the approval of Voyager’s creditors as well.
The Tuesday’s hearing, Voyager attorney Joshua Sussberg confirmed that the lender is actively responding to national security concerns raised by the Committee on Foreign Investment in the United States .The agency essentially reviews the national security implications of foreign investments in US-based companies or operations. Sussberg also asserted that Voyager will address any concerns that CFIUS could deem valid in opposing the transaction with Binance US.
As part of the deal, Voyager will receive a $20 million cash payment and transfer customers to Binance US’ crypto exchange. Thus, it will allow customers to withdraw their crypto assets from the platform for the first time after bankruptcy.
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