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US SEC Filed a Limited Objection to Binance.US’s Voyager Acquisition Deal

US SEC Filed a Limited Objection to Binance.US’s Voyager Acquisition Deal

SEC claims that Voyager and Binance.US failed to provide "necessary information" about the acquisition deal.

The United States Securities and Exchange Commission (SEC), an independent agency of the United States federal government enforcing the laws against market manipulation, has filed a limited objection to Binance.US’s Voyager acquisition deal.

According to the objection filed on January 4th, SEC claims that Binance.US hasn’t provided “necessary information” proving the company's ability to “consummate a transaction of this magnitude.”

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Nevertheless, the United States SEC stated that Voyager and Binance.US failed to provide information about how both companies planned to protect customer assets “during the implementation of the plan process” and after Binance.US purchased Voyager assets. 

On top of that, the SEC emphasized that Voyager must provide “sufficient detail” about what would happen if the transaction will not be completed by April 18th.

In its limited objection, the US regulator noted that it had contacted Voyager with its concerns. Voyager has allegedly promised to provide a revised Disclosure Statement until the next hearing regarding the matter.

At the end of its limited objection, the United States Securities and Exchange Commission noted:

The SEC reserves the right to amend this objection after the filing of the amended Disclosure Statement, and further reserves the right to object to confirmation of the Plan on these or any other bases.

The news about the agreement between Binance.US and Voyager broke on December 19th. At that time, Voyager claimed that Binance.US had offered “the highest and best bid for its assets.” Binance.US offered $1.022 billion for Voyager and its digital assets.

It is not the first time crypto-related companies bid for Voyager. At the end of September, a now-bankrupt cryptocurrency exchange FTX US won the bid for bankrupt crypto lender assets. However, after FTX filed for bankruptcy, the deal fell through, and companies like CrossTower, INX Digital and Binance.US joined the second round of bidding.

Gile K. , Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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