Exchange Commission (SEC) and other creditors who argued that the deal was not in the best interest of the company’s stakeholders.
Binance US, which is a subsidiary of Binance, plans to acquire Voyager Digital to expand its presence in the US market. The deal is expected to be completed by the end of the year, subject to regulatory approval.
Temporary gains
While the news of the acquisition has boosted the VGX price, analysts warn that the gains could be temporary. There are still other hurdles to the deal, including regulatory approval and the approval of other creditors.
In addition, the SEC has been cracking down on cryptocurrency companies, and there is a risk that the agency could intervene in the deal. The SEC has already taken action against Binance, accusing the exchange of operating illegally in the US.
Despite the risks, investors are optimistic about the future of Voyager Digital. The company has been expanding its services and recently launched a debit card that allows users to spend their cryptocurrency at millions of merchants worldwide.
The VGX token is currently trading at $0.58, up 70% from its low point this year. The cryptocurrency market as a whole has been on an upward trend, with Bitcoin and Ethereum both hitting new all-time highs in recent weeks.
As the cryptocurrency market continues to grow, more companies are looking to enter the space. The acquisition of Voyager Digital by Binance US could be a sign of things to come, as larger companies seek to expand their reach and gain a foothold in the market.
