Hey Peeps!
On March 7th, Judge Michael Wiles of the U.S. Bankruptcy Court for the Southern District of New York officially approved the purchase agreement between Binance.US and Voyager for $1.02 billion.
This important court decision came a week after the U.S. Securities and Exchange Commission filed an objection against the deal, on the grounds that Binance.US is operating as an "unregistered securities exchange".
The purchase agreement was also objected to by the U.S. Federal Trade Commission (FTC) in late February.
While making his decision, Judge Michael Wiles stated that the SEC "was not affirmatively contending that [Voyager] was doing anything wrong nor that Binance.US was doing anything wrong".
Judge Wiles also pointed out that, despite the claims made by the SEC, they were unable to explain how Binance.US was operating as an unregistered securities broker.
Since neither the SEC or FTC could present any evidence to support their claims, Judge Michael Wiles says he could no longer hold up the deal between Binance.US and Voyager.
"Our goal has always been to return customers their cryptocurrency on the fastest timeline possible and empower users to make their own decisions about their own assets. We look forward to completing the transaction and welcoming Voyager customers to Binance.US where they can expect the highest levels of service and support." - Statement from Binance.US
I have been covering this deal between Binance and Voyager very closely as I am a customer/victim of Voyager.
To see this news, brings me so much relief after a hectic couple of months where Voyager customers were really unsure about what might happen.
From my understanding, there is nothing else stopping this deal from moving forward and it now falls on Binance.US to complete the transaction.
As soon as we get any more information, I will be sure to write about it!
What are your thoughts on this news?
Do you think it is okay to celebrate yet? Or should we wait until we get our crypto/assets back?
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See ya!
:)