SEC dealt blow as Judge clears Binance.US to buy Bankrupt Voyager Digital Assets – Will this affect Ripple and Binance securities case? – Crypto News Flash
- Michael Wiles, a bankruptcy judge in New York has favored BinanceUS in its ruling, which will allow the exchange to finally proceed to purchase Voyager’s asset.
- Following the current court guidelines, Voyager will go on to sell $1 billion worth of its assets to the Binanace cryptocurrency exchange.
Cryptocurrency exchanges across the United States have a reason to celebrate this week as one of the leading crypto exchanges in the country just got the backing of a U.S. based judge.
BinanceUS had initially shown interest in Voyager last year, after it went bankrupt. The U.S. Securities and Exchange Commission would later file an objection to the deal in January, requesting more details from the exchange. BinanceUS seems to have now scored a major win against the SEC in court.
A judge has now ruled in favour of the cryptocurrency exchange, and BinanceUS has been cleared to acquire the assets of the now bankrupt crypto lender Voyager Digital.
A bankruptcy judge in the Southern District of New York, Michael Wiles, overruled all the objections from the SEC on the 7th of March. BinanceUS now has all the rights to buy Voyager’s assets.
Prior to the most recent development, reports making rounds on the cryptocurrency market were claiming that Binance was already discouraged. The reports claimed that the exchange was pulling out of making the purchase, as regulatory bodies were pushing back on the exchange’s plans.
Voyager to sell $1 billion worth of assets to Binance, while CZ endorses suggestions from the public that Binance creates an AI bot
Following the ruling, $1 billion worth of assets will be sold by Voyager to Binance exchange. The sale will follow the already existing guidelines of the U.S. court.
Changpeng Zhao, the CEO of Binance has responded to the news with a tweet, showing excitement for the victory achieved. In his tweet, he made a statement, seemingly directed to the U.S. court, asking that users be protected and that builders continue to build. He further added that fear, anxiety and doubt (FUD) is only temporary.
Protect users. Build and build.
FUD is temporary. pic.twitter.com/B36KVIH2Tm
— CZ 🔶 Binance (@cz_binance) March 8, 2023
It also seems like the Binance boss is in support of an AI tool that could curb the spread of FUD in the crypto ecosystem. One user suggested that the exchange works on creating an AI bot to push back on misinformation on Binance.
It is unfortunate that crypto is the only place plagued with FUD more than any sector. Hope Binance works on a AI Bot that keeps a register of FUD content to ensure users are well informed. I think it is waste of your brain cycles to field the ever growing FUD on Binance.
The user noted. CZ concurred with sentiments. “Agreed. Over time, the FUD sources will go out of business. Time will take care of it.” He tweeted in response.
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