{"id":9692,"date":"2023-01-11T00:49:44","date_gmt":"2023-01-11T00:49:44","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=9692"},"modified":"2023-01-11T00:49:45","modified_gmt":"2023-01-11T00:49:45","slug":"sec-intervenes-in-binance-us-acquisition-of-bankrupt-crypto-lender-voyager-digitals-assets","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=9692","title":{"rendered":"SEC Intervenes in Binance US Acquisition of Bankrupt Crypto Lender Voyager Digital&#8217;s Assets"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>The U.S. Securities and Exchange Commission (SEC) has intervened in the asset purchase agreement between Binance US and bankrupt crypto lender Voyager Digital. The securities regulator explained that it is \u201cformally investigating whether the debtors and others violated the anti-fraud and other provisions of the federal securities laws.\u201d<\/strong><\/p>\n<h2>SEC Intervenes in Binance-Voyager Asset Purchase Deal<\/h2>\n<p>The U.S. Securities and Exchange Commission (SEC) filed a \u201climited objection\u201d to the asset purchase agreement between bankrupt crypto firm Voyager Digital and the U.S. arm of crypto exchange Binance on Wednesday. The court filing details:<\/p>\n<p>The SEC is formally investigating whether the debtors [Voyager Digital] and others violated the anti-fraud and other provisions of the federal securities laws.<\/p>\n<p>The securities regulator explained that Voyager Digital is seeking \u201cconditional approval of the Disclosure Statement in support of their Chapter 11 plan \u2026 and approval of an asset purchase agreement (APA) with BAM Trading Services Inc. d\/b\/a Binance.US.\u201d<\/p>\n<p>However, the SEC said the Disclosure Statement and the APA fail to include some \u201cnecessary information,\u201d such as:<\/p>\n<p>The ability of Binance US to consummate a transaction of this magnitude, which the debtors value at $1.022 billion \u2026 [and] the nature of Binance US\u2019s business operations after the acquisition.<\/p>\n<p>The Disclosure Statement and the APA also fail to include sufficient details regarding \u201chow the debtors intend to secure customer assets\u201d during the implementation of the plan and \u201cthe rebalancing of the debtors\u2019 cryptocurrency portfolio,\u201d the regulator added.<\/p>\n<p>Crypto exchange Binance announced on Dec. 18 that its U.S. entity has entered into an agreement to acquire Voyager\u2019s assets.<\/p>\n<p>The SEC further noted that its staff has communicated the regulator\u2019s concerns to the debtors\u2019 counsel and has been advised that a revised Disclosure Statement will be filed.<\/p>\n<p>Regarding the Disclosure Statement motion and the APA motion, the court filing concludes:<\/p>\n<p>The SEC requests that the court deny approval of the motions subject to the debtors sufficiently addressing the issues raised above and grant such other and further relief that is just and proper.<\/p>\n<p><em><strong>What do you think about the SEC intervening in the asset purchase deal between Binance US and bankrupt crypto lender Voyager Digital? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/sec-intervenes-in-binance-us-acquisition-of-bankrupt-crypto-lender-voyager-digitals-assets\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has intervened in the asset purchase agreement between Binance US and bankrupt crypto lender Voyager Digital. The securities regulator explained that it is \u201cformally investigating whether the debtors and others violated the anti-fraud and other provisions of the federal securities laws.\u201d SEC Intervenes in Binance-Voyager Asset Purchase Deal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9693,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-9692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9692"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9692\/revisions"}],"predecessor-version":[{"id":9694,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9692\/revisions\/9694"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/9693"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}