• A bankruptcy judge ruled that Binance.US should go ahead to complete its $1 billion acquisition of Voyager Digital.
• The US Department of Justice requested the court to halt the deal, but Judge Michael E. Wiles said pausing it would hurt Voyager clients.
• Binance was originally approved to acquire Voyager for $1 billion in December 2022 and the deal is now set for execution on 20 March.
Binance.US Acquisition of Voyager Approved
A judge at the New York bankruptcy court denied the Department of Justice’s request on Wednesday and allowed Binance.US to complete its $1 billion deal for Voyager Digital. Judge Michael E. Wiles said that pausing the deal pending government appeal would only hurt Voyager clients, so he allowed it to proceed as determined by the court last week which did not include any exemptions from tax or securities laws violations as requested by the government in its appeal via the US Trustee’s Office.
Binance-Voyager Deal Slated for Execution on 20th March
Binance was originally approved to acquire Voyager for $1 billion in December 2022, as CoinJournal reported, and an agreement between Voyager and Binance has now set this deal for execution on 20 March after having been slated for 15 March before hitting a roadblock due to government objections.
Reaction to News Positive
The news that Binance can go ahead with acquiring Voyage has been met with positive reactions from investors who have been waiting since July last year when withdrawals were stopped by Voyage Digital, hoping they would be able to access their crypto assets soon enough. The cryptocurrency exchange’s native token BNB also jumped 6% after this news as a result of renewed investor confidence in both companies involved in this transaction; Binance and Voyage Digital respectively.
Impact On Customers
Judge Wiles noted that halting the process will only hurt customers even further who have already had a long wait time since July last year when withdrawals were stopped by Voyage digital leading up to this point where investors are hoping they will be able access their crypto assets soon enough through successful completion of this transaction between two juggernauts in their respective industries; cryptocurrency exchange Binance and Crypto lender Voyage Digital .
In conclusion, although there were some legal objections raised by the US government during earlier stages of this acquisition process, these have all been addressed while still maintaining customer interest at heart however possible with Judge Wiles noting that any pauses could prove harmful towards customers who have waited since July last year when withdrawals were first halted by Voyage Digital leading up until present day where investors are hopeful they will be able access their crypto assets soon enough through successful completion of this transaction between two juggernauts in their respective industries; cryptocurrency exchange Binance and Crypto lender Voyage Digital .