Bankruptcy judge michael wiles in new york was involved in a proposed asset purchase agreement between voyager and the crypto exchange, binance.us. the agreement was meant to provide voyager customers, who have been unable to access their funds since july 2022, with 51% of their capital back. the deal was allowed to proceed with a vote among creditors, and it drew criticism from both the sec and alameda research.
Agreement was presented in december of last year, and the court filing was held in new york. the u.s. committee on foreign investment in the united states (cfius) posted a list of questions regarding the deal in december as well. a court hearing will be held on march 2 or shortly after to finalize the deal.
Deal was proposed due to the “crypto winter” and exposure to the now-collapsed terra. ftx won the bid to purchase the firm’s remaining assets before ftx then slid into a high-profile bankruptcy of its own. the sec questioned binance’s ability to “consummate a transaction of this magnitude” and the cfius reserves the right to block the deal if it presents enough potential danger to u.s. national security. if the cfius does block the binance deal, it will result in a lower payout for voyager’s users.