Hey Peeps!
On March 27th, U.S. District Judge Jennifer Rearden granted the Government's emergency request to halt the Binance and Voyager deal, pending a final appeal.
This decision by the court was announced the same day that the Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance for market manipulation and evasion of compliance controls.
The deal between Binance and Voyager was originally agreed to back in December 2022 and was just recently given final approval, despite regulatory complaints, from the bankruptcy court.
The agreement has been hotly contested by regulatory agencies as both the FTC and SEC filed objections against the deal, and Binance even considered pulling out of the deal at one point.
Here is the official appeal submitted by the U.S. Department of Justice that is the reason for the current hold: https://cases.stretto.com/public/x193/11753/PLEADINGS/1175303102380000000013.pdf
Voyager's lawyers argued in court that another hold on this deal could push Binance over the edge and cause them to back out of the purchase agreement completely.
If Binance did back out, Voyager would be in another tough position, after filing for bankruptcy back in July 2022 and then having to deal with the FTX's bid to purchase Voyager that ultimately fell through after the exchange's historic collapse.
There were always companies bidding to buy Voyager, but after each failed attempt I expect the next buyout price to keep getting smaller; which would mean less money for customers/victims.
I have been covering this Binance/Voyager since the beginning, as I am one of the many Voyager customers/victims, and I am starting to get tired of writing about it.
To me, it almost seems like the U.S. government is trying their absolute best to stop this Binance/Voyager deal from going through.
Every time we get an approval by the courts there always seems to be another roadblock in the way to stifle the deal from closing.
I do not even know what to say about this situation anymore; I would like to be optimistic, but this situation keeps changing every week and I am getting whiplash.
At the end of the day, I just want to know what the hell is going on and what us Voyager customers/victims can expect.
What are your thoughts on this news?
What are the odds this deal goes through at this point?
Is the U.S. government trying to intentionally sabotage the Binance/Voyager deal?
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