![]() ![]() This certainly isn’t the first time the government has foiled Binance’s attempts to buy Voyager Digital’s assets, either. Discussion on social media suggests that the SEC filed its objection because it doesn’t believe Binance.US could fund the acquisition without receiving funding from its global counterpart. Though, the SEC’s filing is not without its controversy. Seeking to prevent another catastrophe that would affect thousands of Binance.US users’ funds, these questions could provide the transparency that many of these clients would like to see. It’s clear that these complaints are rooted in the recent FTX meltdown. Namely, the body inquires about how Binance.US plans to fund the acquisition, and how it will secure clients’ assets during the deal. The government agency complains that the terms of the acquisition lack many details. On Wednesday afternoon, the SEC filed an objection to Binance.US’s $1 billion bid for Voyager Digital’s assets. This week, it is continuing to levy new challenges against the company with an objection to Binance.US’s purchase. The SEC has been a central character in the struggle between the two, launching several probes into Binance. government have had a tumultuous relationship with each other, that much is certain. SEC Legal Challenge Is the Second Roadblock Complicating Binance Voyager Digital Bidīinance and the U.S. However, it seems Binance.US has a bit of work to do if it wants to ensure a smooth transaction. The exchange got a much better deal than its fallen competitor, paying just over $1 billion for the assets. As investors now know, this transaction would never go through, since FTX fell into its liquidity crisis and subsequent bankruptcy only weeks after.īy mid-December, Voyager Digital announced its intention to sell these assets once again - this time, to Binance.US. In a court-ordered bankruptcy auction, FTX secured the assets with a winning bid of $1.4 billion. Voyager Digital had been poised to sell its remaining assets to FTX just one month before the latter company’s implosion. By July, it would be filing for bankruptcy protection. With the Terra ( LUNA-USD) collapse in May, the company had tanked due to its exposure to the LUNA-heavy Three Arrows Capital balance sheet. Voyager Digital was one of the first crypto companies to fall as a result of the crypto winter. First, Binance.US will need to go through the Securities and Exchange Commission (SEC). Lucky for it, it seems that FTX’s rival Binance ( BNB-USD) is trying to save it via its Binance.US arm. The company’s bankruptcy has been impeded for months by FTX’s involvement and subsequent bankruptcy of its own. One company roiled by the disastrous sequence of events has been Voyager Digital. However, while much of the interest has fallen on its founder, Sam Bankman-Fried, the effects of the company’s collapse are far-reaching and still very much present across the market. ![]() The fall of FTX ( FTT-USD) made for the most spectacular news story of the last year. ![]()
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