Voyager Digital (CSE/VYGR, OTCQX/VYGVF), has received initial court approval to accept Binance.US’s US$1bn bid on the assets of the bankrupt crypto lender after New York Bankruptcy Judge Michael Wiles approved the asset purchase agreement.
Binance.US, the subsidiary of Binance.US, the largest cryptocurrency exchange in the world, indicated its intent to purchase the assets of the bankrupt lender at the tail-end of 2022.
Numerous regulators scrutinised the deal, including the Committee on Foreign Investment in the United States. (CFIUS) conducted a national security assessment into the acquisition during the holiday period.
CFIUS was established by Joe Biden as a review of foreign investment in the US. Although the US President did not provide any details about the security risks, the New York Attorney’s Office stated that it could stop the deal.
Changpeng Zhao, Binance founder and Canadian citizen, was born in China but has no connection to the country. Zhao spoke out against the undue suspect he attracted.
In a blog post, he stated that “the inference is that we have ethnically Chinese workers, and maybe because I am ethnically Chinese,” and added that we were secretly in the pockets of the Chinese government. “We are an easy target of special interests, media and policymakers who hate our industry.”
Zhao stated, “I am a Canadian citizen. Period.”
The US Securities and Exchange Commission (SEC), also put a wrench in the works, when it filed an objection to the New York Bankruptcy Court (4 January).
The regulator questioned Binance.US’s capability to close the US$1bn transaction.
Binance’s rival FTX, which was founded by Sam Bankman-Fried, had originally planned to purchase the assets of the lender before it filed for bankruptcy.
Post Disclaimer
The following content has been published by Stockmark.IT. All information utilised in the creation of this communication has been gathered from publicly available sources that we consider reliable. Nevertheless, we cannot guarantee the accuracy or completeness of this communication.
This communication is intended solely for informational purposes and should not be construed as an offer, recommendation, solicitation, inducement, or invitation by or on behalf of the Company or any affiliates to engage in any investment activities. The opinions and views expressed by the authors are their own and do not necessarily reflect those of the Company, its affiliates, or any other third party.
The services and products mentioned in this communication may not be suitable for all recipients, by continuing to read this website and its content you agree to the terms of this disclaimer.