Binance US-Voyager Digital Acquisition Stalled by Legal Challenges

The world’s largest cryptocurrency exchange, Binance, faces legal challenges as its US branch, Binance US, seeks to acquire the assets of crypto lending platform Voyager Digital.

The world’s leading cryptocurrency exchange, Binance, faces legal obstacles as its US subsidiary, Binance US, aims to acquire the assets of the crypto lending platform Voyager Digital. Due to ongoing lawsuits filed by regulatory authorities, the billion-dollar deal is currently suspended, and the future of the acquisition remains uncertain.

Binance US had previously submitted a bid for Voyager Digital’s assets. This offer led to a lawsuit filed by US authorities opposing the acquisition. In response, District Judge Jennifer Rearden decided to halt the agreement between Binance US and Voyager. The judge also indicated her intention to resolve the dispute quickly, as potential delays could lead to monthly costs of up to $10 million.

Although US Bankruptcy Judge Michael Wiles approved the sale in early March, Rearden decided to suspend the sale while evaluating objections made by the US Attorney. These objections claim that the contract effectively immunizes Voyager from tax or securities law violations by clearing it. Rearden believes that Voyager and its creditors have not yet completely refuted the government’s arguments.

Uncertainty Continues

As the legal battle continues, the outcome of Binance US’s acquisition target of Voyager Digital remains uncertain. The resolution of this dispute will have significant implications for both companies and the broader cryptocurrency market.

In conclusion, the billion-dollar deal between Binance US and Voyager Digital is at a standstill due to regulatory concerns and ongoing lawsuits. The resolution of this legal dispute will ultimately determine the future of the acquisition and its potential impact on the cryptocurrency market.

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