as “lame” and “unfounded.” The SEC had argued that the VGX Token, which was issued by Voyager Digital, was a security and therefore subject to regulation under federal securities laws. However, Voyager Digital’s legal team argued that the token was not a security and therefore not subject to SEC regulation.
The filing also requested that the court approve the $1.02 billion offer for Voyager Digital’s assets by Binance.US. The offer was made in February and would see Binance.US acquire all of Voyager Digital’s assets, including its trading platform and customer base.
Voyager Digital filed for bankruptcy in December 2021, citing financial difficulties caused by the SEC’s investigation into the company’s activities. The SEC had accused Voyager Digital of violating federal securities laws by offering unregistered securities to investors.
The case has been closely watched by the cryptocurrency industry, as it could have significant implications for the regulation of digital assets. The SEC has been cracking down on cryptocurrency companies in recent years, and many in the industry have expressed concern that the agency’s actions could stifle innovation and growth.
The court is expected to rule on the case in the coming weeks. If the court approves the Binance.US offer, it would mark a significant victory for Voyager Digital and could help to restore confidence in the cryptocurrency industry.
