Amid all the back-and-forth over the last week, Binance.US has finally got the approval to acquire the assets of bankrupt crypto lender Voyager Digital. On Tuesday, March 7, Michael Wiles, a bankruptcy judge in the Southern District of New York, overruled all the objections while ruling in favour of the sale. Under the guidance of the US court, Voyager will sell a total of $1 billion worth of assets to Binance. After Voyager went bankrupt last year, Binance was keen on acquiring the platform’s assets. However, Binance.US had a tough time dealing with the US regulators, especially the SEC. (coingape)

Voyager Digital has denied claims from the U.S. Securities and Exchange Commission (SEC) that its VGX token is a security, as it seeks court approval for a $1.02 billion offer from Binance US to buy up the bankrupt crypto lender.

The United States judge overseeing Voyager Digital’s bankruptcy case has chastised the Securities and Exchange Commission (SEC) for its ambiguous reasoning for objecting to the crypto lending firm’s proposed sale to Binance.US. The details have been shared in a report published by Reuters.

The bankruptcy judge on Voyager Digital’s case has reportedly scolded the United States securities regulator over its ambiguous reasoning for objecting to the crypto lending firm’s proposed sale to Binance.US. At a Mar. 2 hearing in a New York court, U.S. bankruptcy judge Michael Wiles said the Securities and Exchange Commission (SEC) had basically asked to “stop everybody in their tracks” without explaining how to address concerns it had over the deal according to a Reuters report. (Cointelegraph)

The movements suggest that Voyager has been cashing out the funds, which could result in significant selling pressure on the digital currencies involved.

Voyager’s former Chief Innovation Officer Shingo Lavine warned that the platform could enact customer clawbacks under Chapter 11 bankruptcy rules – potentially affecting 32,000 users.

Voyager’s rewards program, a part of which was once the target of a state regulator investigation, was run at a loss to the company almost every month since its inception.

According to on-chain analyst Lookonchain, bankrupt crypto brokerage firm Voyager Digital has been selling its crypto assets via leading exchange Coinbase since 14 February. 

Texas' State Securities Board and the Department of Banking are objecting to a proposed deal between Binance. US and bankrupted crypto lender Voyager Digital, shows a court filing from Feb. 24.

The Federal Trade Commission has objected to crypto broker Voyager Digital’s third attempt at a bankruptcy restructuring plan, saying it would unlawfully bar the company from being held accountable for “actual fraud, willful misconduct, or gross negligence.”