US Department of Justice challenges $1 billion Binance.US purchase of Voyager assets

The United States Department of Justice filed an appeal against Binance.US’ purchase of Voyager’s assets for one billion dollars about one day after the transaction was allowed by the bankruptcy court in New York.

Even though a bankruptcy judge in New York approved Binance.US’s proposal to buy Voyager’s troubled assets, the United States government is working to prevent the multi-billion dollar transaction.

An appeal was filed against Binance by the Trustee Office of the United States Department of Justice. The United States completed the purchase of the assets of the insolvent cryptocurrency lender Voyager Digital about one day after the bankruptcy judge in New York, Michael Wiles, gave his approval.

During the hearing, Judge Wiles said, “things need to be done.” Creditors “are waiting, and in the middle of all this uncertainty have no access to property in which they have invested, in some instances, their life savings,” he said.

The Department of Justice has filed an appeal in response to similar opposition from other regulators, including the Securities and Exchange Commission (SEC), which filed an objection to the deal one month ago, citing a potential violation of federal securities laws through the unregistered operation of a securities exchange. The DOJ’s appeal comes after the SEC filed its objection, followed by similar opposition from other regulators.

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