Thursday, March 9, 2023, HarianKripto.id - The deal involves the merger of Binance.US and Voyager, a publicly listed cryptocurrency brokerage firm, and acquires a significant stake in the company.
This decision allows Binance.US to continue operating in the US market. Reuters reports that Judge Michael Wiles has approved the sale and a related $20 million payment plan to Voyager customers, after overruling objections from the SEC, which argued that part of the $1.3 billion deal could violate securities laws.
Judge Wiles stated that he could not adjourn the case indefinitely while regulators investigated the deal.
In January, Voyager estimated in a court filing that customers could recover about 50% of the amount they owed, but during a court hearing on March 2, Voyager attorney Christine A.
Okike states that customers can earn about 73% back based on the latest prices of crypto assets.
Although Voyager has the option to liquidate itself and leave the proceeds to the customer instead of continuing with the sale, Voyager's principal investment banker Brian Tichenor said the deal with Binance.US will provide customers with an additional $100 million.
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