
Binance.US nixes Voyager deal
Binance.US said that although they hope to help Voyager, the regulatory environment in the United States had "introduced an unpredictable operating environment impacting the entire American business community."
Binance.US said that although they hope to help Voyager, the regulatory environment in the United States had "introduced an unpredictable operating environment impacting the entire American business community."
Tron founder Justin Sun has been given 21 days to respond to the civil charges, and failure to respond will result in a default judgment against him.
Receipts are piling up against Binance, while boss Changpeng Zhao is in a race against time to flip the table before his empire implodes and see himself end up like FTX's Sam Bankman-Fried.
District Judge Jennifer Rearden granted the government's emergency application for a pause in the sale of Voyager, pending an appeal by the DoJ earlier this month.
The U.S. judge allowing Binance.US to acquire Voyager Digital’s assets may be pushing federal authorities to accelerate criminal and civil actions against the international Binance.
The Securities and Exchange Commission and the New York Department of Financial Services had opposed the deal, the latter alleging Voyager had operated an unlicensed and illegal virtual currency business in New York.
Wall Street Journal recently reported on internal communications that poke larger holes in Binance’s repeated assertions that the Binance.US exchange is an independent entity.
In a flurry of court filings, New York and federal finance regulators lodged multiple objections to the proposed billion-dollar deal, on the grounds that it could prove discriminatory and unlawful.
Responding to the damning report, a spokesperson from Binance.US denies that Changpeng Zhao has more control over the platform than the execs themselves, adding that Reuters has used "outdated information."
Binance.US will assume control of $1 billion in digital assets frozen last July when Voyager filed for Chapter 11 protection.
The Binance digital asset exchange has some explaining to do after blockchain data showed it financially rescuing its supposedly ‘independent’ Binance.US offshoot.
Kevin O’Leary described FTX and Binance as “two behemoths that owned the unregulated market” for exchanges and “were at war with each other and one put the other out of business—intentionally.”