Voyager announced On March 1st, 97% of customers voted in favor of a bankruptcy plan involving the sale of assets to Binance.US.
97% of the yes votes accounted for about 98% of the total amount claimed, which is worth about $541.61 million.
Voyager said further details will be revealed after a court hearing scheduled for March 2.
Voyager said in December 2022 that after considering all options, it concluded that Binance.US was the highest bidder for its assets.
However, according to Feb. 24, the U.S. SEC and regulators in New Jersey and Texas are opposing the company’s plans to sell its remaining assets to Binance.US to complete its creditors. Documents to submit to the court.
Regulators objected that Voyager owed Alameda a large loan, arguing that most of the proceeds from the asset sale to Binance.US would be voided. Additionally, regulators are concerned that taking over Voyager’s assets could allow Binance to gain a foothold in the U.S. market without a proper license.
The regulator also claimed that Binance.US’ terms of service permitted the transfer of sensitive personal data to entities outside the United States.
“Accordingly, under these ToUs, customer information may be transferred to virtually any company or individual that Binance.us desires. The customer will not be held responsible in the event of a right to dispute this matter.”
Texas Watchdog also claimed that the deal was “unfair” to Texas residents because Texas is outside Binance’s jurisdiction. You will be obligated to keep it for 6 months.
On the other hand, the FTC objected I oppose the company’s bankruptcy plan because it helps avoid accountability for “actual fraud, willful misconduct, or gross negligence.”
Regulators said if the plan is approved, they will be unable to take legal action or fine against Voyager or its former employees.
