• Judge Michael E. Wiles at the New York bankruptcy court has ruled that Binance.US can proceed with its $1 billion acquisition of Voyager Digital
• The US Department of Justice had appealed Judge Wiles’ ruling, asking for the acquisition to be halted until legal objections are settled
• Following the ruling, an agreement between Voyager and Binance is set for execution on 20 March
Binance.US Acquisition of Voyager to Proceed
A judge at the New York bankruptcy court has denied a request from the US Department of Justice (DOJ) to stop Binance.US from completing its $1 billion deal for Voyager Digital. Judge Michael E. Wiles said halting the process pending government appeal would only hurt Voyager customers further.
Department of Justice Appeal
The DOJ appealed Judge Wiles’ ruling that allowed Voyager to sell its assets to Binance.US in December 2022. The government wanted the acquisition halted until a number of legal objections were settled, arguing that allowing it could absolve Voyager and its staff from potential tax or securities laws violations.
Judge Rules Against DOJ Request
In his ruling on Wednesday however, Judge Wiles noted that the $1 billion deal does not include such exemptions, adding that pausing it would only hurt clients who have been waiting since July last year for access to their crypto assets held by Voyager Digital.
BNB Price Jumps 6% After News
BNB, Binance’s native token, jumped 6% following news that an agreement had been struck between Voyager and Binance for completion of the deal on 20 March – originally slated for 15 March 2022.
The decision by a New York bankruptcy court judge will allow Binance.US to proceed with its $1 billion acquisition of cryptocurrency lender Voyager Digital as planned on 20 March this year despite opposition from the US government via the Department of Justice’s appeal which was denied by Judge Michael E Wiles citing potential harm to customers if it were delayed any longer