#Judge #halts #Voyager #Digitals #bln #sale #Binance.US
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No one can quite figure out what constitute crypto offerings/sales as securities, and yet they claim that there’s regulatory clarity.
Dam just give me my voyage money on binance so I can spend it already.
I’ll never get my 3.50 back at this rate
$20m to take on control of $1.3b of crypto assets? Damn there’s some fee profit to be made there.
Every time they claim to be protecting investors they are lying. They protect the big banks while they wage a war on binance. Pathetic
I feel bad for those with funds in voyager. Seems like it doesn’t stop
Binance just got sue, let’s see if it was guilty in a few years, or maybe is was all a sham to stop it expansion. Who knows
Not so Brief TLDR:
A federal judge on Monday temporarily stopped bankrupt Voyager Digital (VYGVQ.PK) from completing a proposed $1.3 billion sale to crypto exchange
Binance.US has agreed to pay $20 million in cash to Voyager, and take on crypto assets deposited by Voyager customers. Those assets, valued at $1.3 billion in February, account for the bulk of the deal’s valuation, according to Voyager.
Binance crypto exchange was also sued on Monday in a separate legal action by the U.S. Commodity Futures Trading Commission (CFTC), which filed a lawsuit alleging that Binance.com operated an “illegal” exchange and a “sham” compliance program.
Binance.US maintains publicly that it is entirely independent of Binance.com, operating as the “U.S. partner” to the world’s biggest crypto exchange.
The U.S. Attorney’s Office for the Southern District of New York and the Office of the U.S. Trustee, the Department of Justice’s (DOJ) bankruptcy watchdog,argued that the protections could rubber stamp crypto tokens that might be unregistered securities, as well as transactions that could be illegal under U.S. securities laws.
U.S. District Judge Jennifer Rearden in Manhattan ruled Monday that the sale should be put on hold, overruling Voyager’s argument that a delay could cause Binance.US to back out of the deal entirely.
That throws a spanner in the works
This is beginning to look like xrp vs sec case…
All these news should be boosting hardware wallet sells. Get a cold storage or hardware wallet. Always move your crypto out of exchanges the first chance you get. Any day can be your day or getting rekt.
Having no competition in the CEX space is not a great solution for the future of crypto.
These US is going to fumble this and going to find itself behind countries that have already established common sense regulation and are fostering innovation.
Binance clearly in their sights
I was waiting for this to happen. They definitely don’t want this going through. Gotta have max pain on anyone invested in crypto.
Now I think the Voyager sale to Binance is off for real lol
tldr; A federal judge on Monday temporarily stopped bankrupt Voyager Digital from completing a proposed $1.3 billion sale to crypto exchange Binance.US, allowing the US government more time to pursue appeals that challenge the legality of the deal. The US government argued that the protections could rubber stamp crypto tokens that might be unregistered securities, as well as transactions that could be illegal under U.S. securities laws.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
The domino fallout is already happening!
Damn US is all in against binance. This is going to be a very interesting year
See some more exchange failures coming our way this year! Tis the season!
I just want my 50 bucks back, guys!!! Wtf.