Share this article
Voyager’s Binance US Sale Plan ‘Full Steam Ahead,’ Counsel Says
97% of creditors have so far voted in favor of the plans with hours left to go in the vote, Voyager’s attorneys told a court.
Updated Feb 22, 2023, 4:24 p.m. Published Feb 22, 2023, 3:33 p.m.
Make us preferred on Google
Plans to wind up Voyager Digital by selling assets to Binance US are “on track,” an attorney for the bankrupt crypto lender told a New York court on Wednesday.
Lawyers for Voyager said 97% of votes so far have been in favor of the plan with hours left to go in the voting process.
STORY CONTINUES BELOW
“As of last night, creditors are still overwhelmingly voting to accept the plan at 97%,” Allyson Smith of Kirikland & Ellis, representing Voyager, told bankruptcy judge Michael Wiles, with a deadline to vote on or object to the plan due to close at 4:00 p.m. ET Wednesday.
“We are on track and don't anticipate any obstacles and expect to be before Your Honor again next Thursday,” Smith said, referring to an intention to confirm the plan on March 2.
Voyager, which filed for bankruptcy protection in July, initially agreed to sell itself to FTX, but reopened the bidding process after Sam Bankman-Fried's exchange collapsed in November. Binance US swooped in with the winning offer in December, which Voyager attorneys said would offer the best deal for creditors.
Read more: Judge Allows Binance.US Bid to Buy Voyager Assets to Advance
CORRECTION (Feb. 22, 17:43 UTC): Corrects spelling of Allyson Smith's name; correctly attributes second quote to Smith.
More For You
Mais para você
Crypto group counters Wall Street bankers with its own stablecoin principles for bill
After the bankers shared a document at the White House demanding a total ban on stablecoin yield, the crypto side answers that it needs some stablecoin rewards.
O que saber:
- The U.S. Senate's crypto market structure bill has been waylaid by a dispute over something that's not related to market structure: yield on stablecoins.
- The Digital Chamber is offering a response to a position paper circulated earlier this week by bankers who oppose stablecoin yield.
- The crypto group's own principles documents argues that certain rewards are needed on stablecoin acvitity, but that the industry doesn't need to pursue products that directly threaten bank deposits business.
Top Stories
