Voyager Digital Defends SEC’s Objection to Binance 1B Acquisition

  • Voyager Digital stated the objections fail to put forward any factual or legal support.
  • Voyager claims it only agreed to the loan facility based on AlamedaFTX’s false promises.

Bankruptcy cryptocurrency lender Voyager Digital filed a motion in a US court in response to the opposition to the Binance.US plan to pay off its debt. Two legal files published late Sunday that it called the Alameda objections “hypocrisy and chutzpah”. 

Also, Voyager Digital claimed in one document the objections “fail to put forward any factual or legal support, and such objections should be overruled”. Additionally, the crypto brokerage stated the deal maintained its “‘fiduciary out’ should a greater or superior alternative transaction which protects the Debtors. 

Alameda Research Misleads Voyager Digital?

On December 19, the crypto lender declared that it accepted Binance’s offer to buy its assets. But the proposal was opposed by the Securities and Exchange Commission (SEC), various state-level regulators, the U.S. trustee, and the trading subsidiary of insolvent cryptocurrency exchange FTX ‘Alameda Research’.

Following that, on Jan 4, SEC issued a “limited objection” to Binance U.S’s $1 billion planned acquisition of the bankrupt cryptocurrency lender Voyager Digital due to a lack of “adequate information”. However, according to Voyager, concerns raised regarding Binance.US’s ability to fund the acquisition by the SEC, financial authorities from New York, Texas, and Vermont, as well as the U.S. Trustee, the DoJ’s bankruptcy section, are “misplaced”.

FTX and Alameda attempted to save Voyager and FTX US won the auction for Voyager’s assets prior to filing for bankruptcy on November 11. Following FTX’s bankruptcy, the bidding process was resumed. 

However, Voyager stated that it only agreed to the loan agreement “based on AlamedaFTX’s misleading and false promises”. It continued, stating that FTX’s attempt to acquire Voyager was a last-ditch effort to cover the gaps in its balance sheet. Also, Alameda’s objections are “frivolous” and ” evince hypocrisy and chutzpah at its finest” in response to their assertions. 

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