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VGX rebounded, finding support at a crucial level, igniting a glimmer of hope for recouping losses. Is it on a sustainable upward trajectory? VGX Breaks [...]
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Google expands its Web3 program with 11 blockchain partners, while the UK government commits $125 million to accelerate its AI readiness. FTX is set to sell LedgerX for $50 million, and Binance.US backs out of a $1 billion Voyager asset purchase, citing regulatory concerns. (Read More)
The bankrupt lender still holds 3.1 trillion Shiba Inu (SHIB) tokens and 39,113 Ethereum (ETH). Bankrupt crypto lender Voyager has received up to $610 million worth of USDC in two separate addresses in the past month. These funds come from the lender’s elaborate selloff campaign which involves multiple assets such as Shiba Inu (SHIB), Ether […]
The post Voyager Received $610M USDC From Selling Shiba Inu, & Ethereum first appeared on The Crypto Basic.
This week’s Crypto Biz explores Google expanding its Web3 program, the U.K.’s $125 AI pledge, FTX selling LedgerX and Binance.US backing out of its Voyager purchase.
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A federal judge has temporarily halted a proposed deal between Voyager and Binance.US in order to give the government more time to pursue appeals that challenge the deal.
Gemini has added support for crypto withdrawals for customers of Voyager Digital.
After several back and forth, Binance.US has decided to pull the plug on a deal involving the purchase of Voyager's assets.
Binance.US has decided to pull out of its $1 billion acquisition deal for Voyager, citing a hostile and uncertain regulatory environment. Acquisition Deal Nuked Voyager creditors cant catch a break....
Voyager says it is not willing to refund a $10 million payment from Binance.US.
Binance.US, the American arm of the largest global crypto exchange, has backed out of the $1 billion deal to purchase digital assets from the bankrupt crypto brokerage Voyager Digital. The decision came within a week of US federal regulators dropping the effort to block the deal.
Binance.US Ends a Much-Sought Deal
Binance.US did not specify any reason that forced it to back out from the deal, for which it fought for months with the US federal and state regulator. However, the crypto exchange hinted at the hostility of the regulators.
"While our hope throughout this process was to help Voyager's customers access their crypto in kind, the hostile and uncertain regulatory climate in the United States has introduced an unpredictable operating environment impacting the entire American business community," Binance.US wrote in a tweet.
https://t.co/AZwoBOgsqS has made the difficult decision to exercise its right to terminate the asset purchase agreement with Voyager. While our hope throughout this process was to help Voyager's customers access their crypto in kind, the hostile and uncertain regulatory climate…
— Binance.US ???? (@BinanceUS) April 25, 2023The Fight for Voyager's Assets
Voyager Digital filed for bankruptcy last July following the collapse of Terra-Luna, which sent shockwaves to the entire cryptocurrency industry. Before going bankrupt, Voyager also sent a notice of default to Singapore-based Three Arrows Capital (3AC) for failing to make payments on a crypto loan of over $650 million. 3AC also collapsed and is now being liquidated.
In the Chapter 11 bankruptcy filing, Voyager revealed that it had more than 100,000 creditors and assets between $1 billion and $10 billion.
The collapse of New Jersey-headquartered and Toronto-listed Voyager also pushed other crypto companies to rush for its discounted crypto assets. FTX US initially won the bid to procure the digital assets of Voyager, but the exchange and its Bahamas-based parent collapsed soon as the ill-business practices of Sam Bankman-Fried surfaced. Later, Binance.US outbid other players to acquire Voyager's assets but faced regulatory backlash.
The official Twitter handles of Voyager and its committee of unsecured creditors also showed distress on Binance.US's abrupt decision to withdraw from the deal.
"Today, we received a letter from Binance.US terminating the asset purchase agreement. While this development is disappointing, our chapter 11 plan allows for direct distribution of cash and crypto to customers (a "toggle option") via the Voyager platform," Voyager tweeted.
"Consistent with the plan, we will now move swiftly to return value to customers via direct distributions. We will provide more information on next steps and any actions customers need to take in the coming days."
2/ In the meantime, the Committee and Voyager are focused on promptly exercising the toggle option under the Plan to move forward immediately with a self-liquidation.
— Voyager Official Committee of Unsecured Creditors (@VoyagerUCC) April 25, 2023 This article was written by Arnab Shome at www.financemagnates.com.Binance.US, the American arm of a the major crypto exchange, has terminated a 1 billion deal of purchasing Voyager Digital’s Assets. Voyager has revealed the [...]
Voyager, a broker in the exciting world of cryptocurrency, has taken to Twitter to share some shocking news with its
Billions of Shiba Inu tokens transferred as bankrupt crypto lender Voyager moves funds, potentially connected to reopening withdrawals. Billions of Shiba Inu (SHIB) tokens are on the move as Voyager, the bankrupt crypto lender, transfers funds from its hot wallet. In a recent tweet, Lookonchain, an on-chain analytics firm, revealed that Voyager has been shifting […]
The post Bankrupt Crypto Lender Moves 287 Billion Shiba Inu to Unknown Wallet first appeared on The Crypto Basic.
The Binance-Voyager deal secures approval, bringing relief to users and paving the way for a smooth acquisition.
The recent crypto market rally has pumped the crypto holdings of several bankrupt crypto firms in the last 24 hours, according to the Arkham Intelligence dashboard.
The post Market rally pumps bankrupt crypto firm holdings appeared first on CryptoSlate.
The DOJ has filed an appeal against the approval of Voyager Digital's Chapter 11 bankruptcy plan, which would have allowed the company to sell assets to Binance.US. While U.S. bankruptcy judge Michael Wiles approved the plan, the SEC and other regulators have been critical, citing concerns over securities law. If regulators block the deal, Voyager may have to liquidate. (Read More)
The appeal comes barely 24 hours after a judge ordered Voyager to proceed with its $1 billion deal with Binance.US.
The SEC's concerns about Binance.US's were previously brushed aside.
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