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Voyager recieves initial approval for the $1 billion Binance deal despite national security concerns

Voyager Digital, a bankrupt cryptocurrency lender, received preliminary court approval on Tuesday for a planned $1 billion sale of its assets to Binance.US. Voyager Digital also announced that it would work to speed up a U.S. national security review of the transaction.

 

Voyager was granted permission by U.S. Bankruptcy Judge Michael Wiles in New York to enter into an asset purchase agreement with Binance.US and to request creditor approval for the sale, which won’t be finalised until a subsequent court hearing.

 

During the court hearing on Tuesday, Voyager’s attorney Joshua Sussberg claimed that the company was reacting to issues raised over the holidays by the Committee on Foreign Investment in the United States (CFIUS), an interagency body that assesses foreign investments into American businesses for potential threats to national security. He declared that Voyager intended to address any troubles that might cause CFIUS to reject the deal.

 

In order to expedite the process, Sussberg stated, ‘We are working with Binance and their attorneys to not only address that inquiry but also to voluntarily submit an application.’

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