Veröffentlicht von • Judge Michael E. Wiles of the New York bankruptcy court denied the US government’s request to halt Binance.US‘ bid for Voyager Digital.
• The $1 billion acquisition of the crypto lender was approved in December 2022 and is set to be executed on 20 March, after originally being slated for 15 March.
• Following news of the ruling, BNB saw a 6% increase in price.
Binance.US Acquisition of Voyager to Proceed Despite US Government Request
Judge Denies DOJ Request
On Wednesday, Judge Michael E. Wiles at the New York bankruptcy court denied the US Department of Justice’s (DOJ) request to pause Binance.US‘ $1 billion deal for Voyager Digital pending appeal from the government. Judge Wiles noted that halting this process would only hurt customers who have been waiting since July 2022 to access their crypto assets from Voyager, and that pausing it would not include exemptions promised by the court should any violations occur with tax or securities laws.
$1 Billion Deal Approved Last Week
Binance.US had been approved by the court last week to acquire Voyager for $1 billion, as reported by CoinJournal in December 2022 – however, this appeared to be hitting a roadblock before Judge Wiles allowed it proceed with his 9 March ruling. With an agreement between Voyager and Binance now set in place, execution on this deal is due on 20 March which was originally slated for 15 March of this year.
BNB Price Jumps After Ruling
The news of Judge Wiles‘ ruling has caused an increase in price for BNB – jumping 6% after its announcement on Wednesday evening – making it one of many recent catalysts driving bullish sentiment towards cryptocurrency markets lately such as Tesla’s purchase of $1.5 billion worth Bitcoin and Coinbase’s listing on Nasdaq earlier this month amongst others..
What Does This Mean?
This latest development further solidifies Binance’s position as one of the leading players in both cryptocurrency trading and investing markets worldwide; particularly given their already impressive portfolio including offerings like decentralized finance (DeFi), futures trading and more recently options trading with their launch just last week according to reports from Coindesk .
Conclusion
Despite opposition from government authorities, Binance’s acquisition of Voyager appears likely to go ahead judging by recent developments at both state-level courts and exchanges alike; signalling once again how much influence these platforms have had over traditional financial systems across all industries over recent years despite growing regulatory scrutiny globally