1 year ago
The U.S. Securities and Exchange Commission (SEC) has intervened successful the plus acquisition statement betwixt Binance US and bankrupt crypto lender Voyager Digital. The securities regulator explained that it is “formally investigating whether the debtors and others violated the anti-fraud and different provisions of the national securities laws.”
SEC Intervenes successful Binance-Voyager Asset Purchase Deal
The U.S. Securities and Exchange Commission (SEC) filed a “limited objection” to the plus acquisition statement betwixt bankrupt crypto steadfast Voyager Digital and the U.S. limb of crypto speech Binance connected Wednesday. The tribunal filing details:
The SEC is formally investigating whether the debtors [Voyager Digital] and others violated the anti-fraud and different provisions of the national securities laws.
The securities regulator explained that Voyager Digital is seeking “conditional support of the Disclosure Statement successful enactment of their Chapter 11 program … and support of an plus acquisition statement (APA) with BAM Trading Services Inc. d/b/a Binance.US.”
However, the SEC said the Disclosure Statement and the APA neglect to see immoderate “necessary information,” specified as:
The quality of Binance US to consummate a transaction of this magnitude, which the debtors worth astatine $1.022 cardinal … [and] the quality of Binance US’s concern operations aft the acquisition.
The Disclosure Statement and the APA besides neglect to see capable details regarding “how the debtors mean to unafraid lawsuit assets” during the implementation of the program and “the rebalancing of the debtors’ cryptocurrency portfolio,” the regulator added.
Crypto speech Binance announced connected Dec. 18 that its U.S. entity has entered into an statement to get Voyager’s assets.
The SEC further noted that its unit has communicated the regulator’s concerns to the debtors’ counsel and has been advised that a revised Disclosure Statement volition beryllium filed.
Regarding the Disclosure Statement question and the APA motion, the tribunal filing concludes:
The SEC requests that the tribunal contradict support of the motions taxable to the debtors sufficiently addressing the issues raised supra and assistance specified different and further alleviation that is conscionable and proper.
What bash you deliberation astir the SEC intervening successful the plus acquisition woody betwixt Binance US and bankrupt crypto lender Voyager Digital? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
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