A federal court put the brakes on on A merger between Voyager and Binance, with the latter facing accusations from the CFTC.
On March 27, Judge Jennifer Redden of US District Court in New York agreed to the proposal for Emergency stay, which hinders possible Agreement between Voyager and Binance.
CFTC causes problems for binance
On March 17, the United States departs of justice The (Ministry of Justice) submitted an urgent request for the provision of accommodation. Voyager Digital and official A committee of Unsecured creditors immediately challenged it move on March 20, the Ministry of Justice prof final “replypetition on March 21st.
According to a March 27 tweet from Voyager official A committee of unsecured creditors, and group “It will continue to actively resist government initiatives.”
per survey in Prosecute on Feb 28 97% of 61,300 Voyager account holders support restructuring proposal. about 73% of the debt Since Voyager customers will be settled under this arrangement.
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Judge Redden summed it up up the case in His last ruling stipulates that the emergency application submitted by government It is awarded after consideration of written submissions of All parties, conferences and oral discussions take place in This issue.
The Federal Court will issue View soon, providing additional context for verdict.
The acquisition of Voyager on Binance is facing resistance
Since declaring Chapter 11 bankruptcy on July 5, crypto trading business He was actively working to coordinate a strategy to convey cash.
Judge Wiles approved Binance.US purchase of Voyager on March 7, the distribution of bankruptcy codes to affected Voyager customers was a stipulation of This permission.
US authorities have made Several efforts to block the acquisition by Binance, which is the CFTC currently stalking.
Voyager bankruptcy strategy He was result in scam, theftor tax evasion, according to a proposal by the US Securities and Exchange Commission on March 15th. However, Judge Michael Wiles ultimately ruled against This confirmation.
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