Binance US Acquisition of Voyager to be Approved as Judge Rejects SEC’s Objections

03/04/2023 09:00 • NFT Newsflash • 128 views

It is reported that the judge rejected the objection of the SEC and other regulatory agencies to the acquisition of Voyager by Binance US at the hearing, and clearly told the SEC that it would not delay the transaction because of its objection, which indicates that the transaction will be approved after the hearing. 97% of creditors are in favor of this transaction, and creditors may recover 73% of assets in the end. （CoinDesk）

The judge rejected the objection of the SEC and other regulatory agencies to the acquisition of Voyager by Binance US

Interpret the above information:

Binance US, the American-based subsidiary of the world’s largest cryptocurrency exchange Binance, is set to acquire Voyager, a cryptocurrency trading and investment platform. However, the acquisition has faced various objections from regulatory agencies, including the Securities and Exchange Commission (SEC).

Recently, it is reported that the judge has rejected the SEC’s objections during a hearing and has made it clear that the transaction will not be delayed due to their opposition. This indicates that the acquisition will be approved shortly after the hearing.

The objections raised by the SEC and other regulatory agencies are related to concerns about transparency and user protection. However, the judge’s decision implies that the court believes the transaction is in the best interest of the stakeholders involved.

The acquisition has a significant impact on Voyager’s creditors as well. 97% of the creditors have shown their support for the transaction, and they will potentially recover 73% of their assets. This news comes as a relief to creditors and investors, who were previously uncertain about their returns.

The acquisition of Voyager by Binance US is a strategic move for both companies as it will provide Binance US with access to Voyager’s customer base and technology. Voyager, on the other hand, will benefit from Binance’s extensive experience in the cryptocurrency industry.

In conclusion, the judge’s decision to reject the SEC’s objections indicates that the acquisition of Voyager by Binance US will soon be approved. This move will not only benefit the two companies but also the customers and creditors of Voyager. The stakeholders have shown their support for the acquisition, and it is expected to create a stronger and more robust platform for cryptocurrency trading and investment.

Overall, the Binance US acquisition of Voyager presents an important development in the cryptocurrency industry, and we can expect it to drive further innovation and expansion in the sector.

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