April 1, 2023

The United States Department of Justice (DOJ) has filed an appeal to review a New York judge’s decision to approve the sale of bankrupt crypto lender Voyager’s assets to the American affiliate of crypto exchange Binance in a $1 billion deal. The DOJ’s appeal was filed on Thursday evening at the United States Bankruptcy Court for the Southern District of New York through the office of the U.S. Trustee.

The appeal comes after Judge Michael Wiles recently approved the Voyager-Binance U.S. deal despite opposition from U.S. regulators. The judge ruled in favor of Voyager’s proposed plan to sell its assets to Binance.US to maximize value for its stakeholders and creditors.

However, the deal has been opposed several times by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), who have raised concerns about Binance’s compliance with U.S. regulations.

The DOJ’s appeal seeks to overturn Judge Wiles’ approval of Voyager’s plan and prevent the sale of its assets to Binance.US. The appeal argues that the sale would violate U.S. law and harm the interests of Voyager’s stakeholders and creditors.

The appeal is the latest development in the ongoing legal battle between Binance and U.S. regulators. The exchange has faced increased scrutiny from U.S. authorities in recent months over its compliance with U.S. regulations.

Binance has denied any wrongdoing and has pledged to work with regulators to address their concerns. The exchange has also announced plans to establish a U.S. headquarters and hire more compliance staff to ensure it meets U.S. regulatory requirements.

The outcome of the DOJ’s appeal remains uncertain, but it could have significant implications for the future of Binance’s operations in the U.S. and its relationship with U.S. regulators.

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