The US Government Seeks to Halt Sale of Voyager’s Assets to Binance.US

According to reports, according to court documents of the Southern District Court of New York, the United States government displayed “a substantial case on the merits” in its proposal to suspend the sale of Voyager’s assets to Binance.US. Failure to suspend the transaction would cause irreparable damage. The document concludes that District Judge Jennifer Rearden of the United States District Court for the Southern District of New York decided to speed up the briefing and ruling on the appeal, and set a deadline for the sale of Voyager to Binance.US to avoid too long a delay. He requested the government to submit its briefing before April 7. The Voyager Debtors and Creditors Committee should submit a briefing on April 14, and the government should respond to Voyager before April 18.

The US government has suspended the “substantial evidence based on the merits” submitted in the sale of Voyager to Binance.US

Introduction

Recently, there have been reports that the United States government is seeking to suspend the sale of Voyager’s assets to Binance.US. This proposal comes after the government displayed “a substantial case on the merits” according to court documents of the Southern District Court of New York. If the transaction isn’t suspended, it could lead to irreparable damage. In this article, we will discuss the details of the case and what it means for the parties involved.

Briefing on the Appeal

The document concludes that District Judge Jennifer Rearden of the United States District Court for the Southern District of New York decided to speed up the briefing and ruling on the appeal. This was done to avoid too long a delay for the sale of Voyager to Binance.US. The government was requested to submit its briefing before April 7.

Voyager Debtors and Creditors Committee

The Voyager Debtors and Creditors Committee was also given a deadline to submit a briefing. Theirs is due on April 14. The government is then expected to respond to Voyager before April 18.

Background on Voyager and Binance.US

Before delving further into the case, it’s important to understand the background of Voyager and Binance.US. Voyager is a crypto asset broker while Binance.US is a digital asset marketplace. The former announced it would purchase the latter’s US operations back in February. The acquisition would see Voyager gain Binance.US’s 1.7 million registered users, as well as its technology and branding services.

Why the US Government Wants to Halt the Sale

According to the court documents, the United States government has a “substantial case on the merits” for halting the sale. The exact reasons behind the proposal haven’t been made public, but it’s believed that it could be due to concerns about criminal activities or security issues. Whatever the exact reason, the government believes that if the sale goes ahead, it could lead to irreparable damage.

Implications for Voyager and Binance.US

If the US government’s proposal is accepted, it could be a huge blow for both Voyager and Binance.US. Voyager had high hopes for the acquisition, as it would have been a significant milestone for the company. Binance.US, on the other hand, would have benefited from the sale by gaining a strong partner in the US market. However, if the transaction is suspended, it could hinder their growth and future prospects.

Conclusion

The US government’s proposal to halt the sale of Voyager’s assets to Binance.US has sent shockwaves through the cryptocurrency industry. The government’s reasons for wanting to suspend the sale haven’t been made public, but it’s clear that they believe it could lead to irreparable damage. The future of both Voyager and Binance.US is uncertain at this point, but we will certainly be keeping a close eye on developments as they unfold.

FAQs

1. What could be the reasons behind the US government’s proposal to halt the sale?
A: The exact reasons haven’t been made public, but it’s believed it could be due to concerns about criminal activities or security issues.
2. What would happen if the sale goes ahead?
A: The US government believes that if the sale goes ahead, it could lead to irreparable damage.
3. What are the implications of the suspension for Voyager and Binance.US?
A: If the transaction is suspended, it could hinder the growth and future prospects of both Voyager and Binance.US.