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SEC comes out against Binance.US’s $1 billion deal to buy a bankrupt crypto firm’s assets
February 23, 2023
Binance.US’s proposed deal to purchase the assets from the collapsed cryptocurrency brokerage Voyager Digital is facing scrutiny from federal and state regulators, as reported earlier by CoinDesk. In a set of court filings submitted on Wednesday, the Securities and Exchange Commission (SEC) and New York’s financial regulator expressed opposition to the $1 billion deal.
Voyager Digital filed for bankruptcy last year after the now-defunct crypto hedge fund Three Arrows Capital defaulted on a $670 million loan provided by Voyager. Binance.US — the US version of the Binance trading platform — later announced its plans to purchase Voyager’s assets for $1 billion, stating at the time it could help free up some of the funds locked up in the…